Fearnley Fonds Upgrades Tidewater (NYSE:TDW) to “Strong-Buy”

Tidewater (NYSE:TDW) was upgraded by stock analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday, March 3rd. Barclays upped their price objective on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tidewater in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and an average price target of $89.33.

Tidewater Price Performance

TDW opened at $72.32 on Friday. The stock has a 50-day moving average price of $82.47 and a 200-day moving average price of $69.90. Tidewater has a 12-month low of $42.64 and a 12-month high of $93.13. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $3.60 billion, a P/E ratio of 12.11 and a beta of 0.49.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The firm had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. Tidewater’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts predict that Tidewater will post 3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tidewater

Several institutional investors have recently bought and sold shares of TDW. Royal Bank of Canada boosted its holdings in Tidewater by 22.6% during the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after acquiring an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after acquiring an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Tidewater by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after acquiring an additional 1,931 shares during the period. Cetera Investment Advisers boosted its holdings in Tidewater by 4.1% during the 2nd quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 314 shares during the period. Finally, Invesco Ltd. boosted its holdings in Tidewater by 12.1% during the 2nd quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock valued at $10,492,000 after acquiring an additional 24,609 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.