Latest Stocks: Tidewater Inc. (TDW) Expected to Post Quarterly Sales of $118.75 Million

Latest Stocks: Tidewater Inc. (TDW) Expected to Post Quarterly Sales of $118.75 Million

Equities analysts forecast that Tidewater Inc. (NYSE:TDW) will report sales of $118.75 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Tidewater’s earnings, with the lowest sales estimate coming in at $116.6 million and the highest estimate coming in at $120.9 million. Tidewater posted sales of $184.17 million in the same quarter last year, which suggests a negative year-over-year growth rate of 35.5%. The firm is scheduled to issue its next earnings results on Wednesday, May 24th.

According to Zacks, analysts expect that Tidewater will report full-year sales of $118.75 million for the current fiscal year, with estimates ranging from $557.5 million to $564.64 million. For the next financial year, analysts forecast that the company will post sales of $480.08 million per share, with estimates ranging from $406.2 million to $551.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Tidewater.

Separately, Zacks Investment Research raised Tidewater from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Tidewater presently has an average rating of “Hold” and an average target price of $3.38. Shares of Tidewater (NYSE:TDW) traded up 3.9364% during mid-day trading on Wednesday, hitting $0.8502. The stock had a trading volume of 1,561,753 shares. The stock’s 50-day moving average price is $0.89 and its 200-day moving average price is $1.87. The firm’s market cap is $40.02 million. Tidewater has a 52-week low of $0.66 and a 52-week high of $7.17.

Separately, Zacks Investment Research raised Tidewater from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Tidewater presently has an average rating of “Hold” and an average target price of $3.38. Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Tidewater during the fourth quarter worth $119,000. Comerica Bank raised its position in shares of Tidewater by 4.9% in the fourth quarter. Comerica Bank now owns 49,458 shares of the oil and gas company’s stock worth $127,000 after buying an additional 2,315 shares during the last quarter. Freestone Capital Holdings LLC purchased a new position in shares of Tidewater during the fourth quarter worth $170,000. Wells Fargo & Company MN raised its position in shares of Tidewater by 19.3% in the third quarter. Wells Fargo & Company MN now owns 77,859 shares of the oil and gas company’s stock worth $219,000 after buying an additional 12,587 shares during the last quarter. Finally, Menta Capital LLC raised its position in shares of Tidewater by 71.8% in the fourth quarter. Menta Capital LLC now owns 105,637 shares of the oil and gas company’s stock worth $360,000 after buying an additional 44,158 shares during the last quarter. Institutional investors own 98.73% of the company’s stock.

Tidewater Company Profile Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil.

Get a free copy of the Zacks research report on Tidewater (TDW) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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