Tidewater (TDW) Set to Announce Earnings on Thursday

Tidewater (NYSE:TDW) is scheduled to be announcing its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.79 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s revenue was up 57.8% on a year-over-year basis. On average, analysts expect Tidewater to post $4 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Tidewater Price Performance

Shares of NYSE:TDW traded up $0.14 during midday trading on Tuesday, reaching $59.91. The company’s stock had a trading volume of 277,416 shares, compared to its average volume of 883,479. The business’s fifty day simple moving average is $70.94 and its 200-day simple moving average is $87.71. The company has a market capitalization of $3.14 billion, a P/E ratio of 20.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. Tidewater has a fifty-two week low of $54.53 and a fifty-two week high of $111.42.

Tidewater declared that its board has authorized a stock repurchase program on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TDW. Raymond James lifted their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

About Tidewater

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.