Tidewater Renewables (TSE:LCFS) Hits New 12-Month High – Still a Buy?

Shares of Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$17.35 and last traded at C$17.35, with a volume of 1649 shares traded. The stock had previously closed at C$16.79.

Analyst Ratings Changes

Several analysts have weighed in on LCFS shares. National Bank Financial boosted their price target on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a research note on Friday, May 8th. ATB Cormark Capital Markets lifted their target price on Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada upped their target price on Tidewater Renewables from C$7.50 to C$12.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tidewater Renewables has a consensus rating of “Hold” and an average price target of C$12.58.

Tidewater Renewables Stock Performance

The firm’s fifty day simple moving average is C$13.98 and its 200 day simple moving average is C$9.94. The company has a market capitalization of C$708.20 million, a PE ratio of 88.14 and a beta of -0.43. The company has a debt-to-equity ratio of 120.55, a current ratio of 1.13 and a quick ratio of 0.10.

Tidewater Renewables (TSE:LCFS) last issued its quarterly earnings data on Thursday, August 13th. The company reported C$0.13 earnings per share (EPS) for the quarter. Tidewater Renewables had a return on equity of 5.00% and a net margin of 2.91%.The business had revenue of C$160.60 million during the quarter. On average, research analysts predict that Tidewater Renewables Ltd. will post 0.15 EPS for the current year.

About Tidewater Renewables

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.