In a report released yesterday, Gregory Lewis from BTIG maintained a Buy rating on Tidewater (TDW – Research Report), with a price target of $130.00. The company’s shares closed yesterday at $106.55.
Lewis covers the Energy sector, focusing on stocks such as Tidewater, Scorpio Tankers, and Transocean. According to TipRanks, Lewis has an average return of 1.0% and a 46.70% success rate on recommended stocks.
Tidewater has an analyst consensus of Moderate Buy, with a price target consensus of $109.50.
Based on Tidewater’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $299.26 million and a net profit of $26.2 million. In comparison, last year the company earned a revenue of $191.76 million and had a net profit of $5.38 million
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDW in relation to earlier this year.
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Tidewater (TDW) Company Description:
Tidewater, Inc. engages in the provision of offshore marine support and transportation services to the offshore energy industry. It includes 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; and a variety of specialized services such as pipe and cable laying. It operates through the following segments: Americas; West Africa; Europe and the Mediterranean Sea; and Middle East and Asia Pacific. The company was founded in 1956 and is headquartered in Houston, TX.
