Tidewater Renewables (TSE:LCFS) Hits New 52-Week High – What’s Next?

Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as C$25.80 and last traded at C$24.79, with a volume of 25,865 shares. The stock had previously closed at C$25.06.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LCFS. National Bank Financial boosted their price objective on Tidewater Renewables from C$13.25 to C$22.75 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Royal Bank Of Canada upgraded Tidewater Renewables from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$12.50 to C$25.00 in a report on Friday, August 14th. Finally, ATB Cormark Capital Markets boosted their target price on shares of Tidewater Renewables from C$16.00 to C$19.00 and gave the stock a “speculative buy” rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$22.25.

Tidewater Renewables Price Performance

The company has a quick ratio of 0.10, a current ratio of 1.13 and a debt-to-equity ratio of 109.35. The firm has a market capitalization of C$905.73 million, a price-to-earnings ratio of 94.05 and a beta of -1.03. The stock’s 50 day moving average price is C$20.50 and its two-hundred day moving average price is C$14.77.

Tidewater Renewables (TSE:LCFS) last issued its earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. Tidewater Renewables had a return on equity of 0.20% and a net margin of 0.09%. The company had revenue of C$160.60 million for the quarter. Analysts anticipate that Tidewater Renewables Ltd. will post 0.15 EPS for the current fiscal 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.