Tidewater (TDW) to Release Earnings on Thursday

Tidewater (NYSE:TDW) will announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Tidewater (NYSE:TDW) last announced its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The firm had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The firm’s quarterly revenue was up 62.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. On average, analysts expect Tidewater to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tidewater Stock Down 4.5 %

Shares of TDW traded down $4.37 during mid-day trading on Tuesday, hitting $91.71. 209,914 shares of the company’s stock were exchanged, compared to its average volume of 742,750. The company has a 50-day simple moving average of $87.47 and a 200 day simple moving average of $73.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The company has a market cap of $4.79 billion, a PE ratio of 50.59 and a beta of 1.20. Tidewater has a 52 week low of $39.41 and a 52 week high of $101.10.

Tidewater announced that its Board of Directors has approved a stock repurchase program on Thursday, February 29th that allows the company to buyback $48.60 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO David E. Darling sold 17,821 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total value of $1,462,747.68. Following the completion of the sale, the chief operating officer now directly owns 85,959 shares in the company, valued at approximately $7,055,514.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares in the company, valued at approximately $7,976,208.96. The disclosure for this sale can be found here. Insiders sold a total of 45,462 shares of company stock valued at $3,716,739 over the last three months. Insiders own 9.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TDW. Johnson Rice started coverage on Tidewater in a research report on Friday, February 9th. They issued a “buy” rating and a $88.00 target price on the stock. Pickering Energy Partners assumed coverage on Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating on the stock. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Evercore ISI boosted their target price on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, BTIG Research upped their price target on shares of Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $93.00.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.