Tidewater (NYSE:TDW) Announces Earnings Results, Beats Estimates By $0.32 EPS

Tidewater (NYSE:TDW – Get Rating) issued its quarterly earnings results on Monday. The oil and gas company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.32, MarketWatch Earnings reports. Tidewater had a negative return on equity of 13.48% and a negative net margin of 34.76%.

TDW stock traded up $0.33 during trading on Tuesday, hitting $20.10. 288,144 shares of the company’s stock traded hands, compared to its average volume of 325,947. The company has a quick ratio of 2.09, a current ratio of 2.17 and a debt-to-equity ratio of 0.24. Tidewater has a 52 week low of $9.75 and a 52 week high of $23.99. The firm’s fifty day moving average price is $20.65. The stock has a market cap of $838.71 million, a PE ratio of -6.41 and a beta of 1.46.

A number of hedge funds have recently added to or reduced their stakes in TDW. Invesco Ltd. lifted its holdings in Tidewater by 7.1% in the third quarter. Invesco Ltd. now owns 67,612 shares of the oil and gas company’s stock worth $816,000 after purchasing an additional 4,458 shares during the period. Millennium Management LLC lifted its holdings in Tidewater by 107.2% in the 3rd quarter. Millennium Management LLC now owns 29,068 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 15,040 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Tidewater by 63.2% in the 3rd quarter. Two Sigma Advisers LP now owns 19,054 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 7,380 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Tidewater by 8.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 165,665 shares of the oil and gas company’s stock valued at $1,997,000 after acquiring an additional 12,219 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Tidewater by 125.2% during the fourth quarter. Citigroup Inc. now owns 10,499 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 5,837 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Several equities analysts recently issued reports on TDW shares. StockNews.com initiated coverage on Tidewater in a research note on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet upgraded shares of Tidewater from a “d+” rating to a “c-” rating in a research note on Friday, April 1st.

Tidewater Company Profile (Get Rating)

Tidewater Inc, together with its subsidiaries, provides offshore marine support and transportation 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 natural 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.

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