Tidewater Inc. (NYSE: TDW) stock jumped 2.06% on Wednesday to $49.00 against a previous-day closing price of $48.01. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.73 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $49.68 whereas the lowest price it dropped to was $47.35. The 52-week range on TDW shows that it touched its highest point at $51.88 and its lowest point at $17.51 during that stretch. It currently has a 1-year price target of $53.00. Beta for the stock currently stands at 1.37.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TDW was up-trending over the past week, with a rise of 9.69%, but this was up by 12.00% over a month. Three-month performance surged to 12.93% while six-month performance rose 64.15%. The stock gained 89.56% in the past year, while it has gained 32.97% so far this year. A look at the trailing 12-month EPS for TDW yields -0.08 with Next year EPS estimates of 5.29. For the next quarter, that number is 0.60. This implies an EPS growth rate of 84.30% for this year and 149.53% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 63.60%.
Float and Shares Shorts:
At present, 50.60 million TDW shares are outstanding with a float of 49.77 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.94 million, which was 5.78% higher than short shares on Mar 30, 2023. In addition to Mr. Quintin V. Kneen as the firm’s Pres, CEO & Director, Mr. Samuel R. Rubio serves as its Exec. VP & CFO.
Through their ownership of 91.36% of TDW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.19% of TDW, in contrast to 33.38% held by mutual funds. Shares owned by individuals account for 15.14%. As the largest shareholder in TDW with 13.66% of the stake, T. Rowe Price Associates, Inc. holds 6,905,716 shares worth 6,905,716. A second-largest stockholder of TDW, Neuberger Berman Investment Advis, holds 3,064,214 shares, controlling over 6.06% of the firm’s shares. Robotti & Co. Advisors LLC is the third largest shareholder in TDW, holding 3,063,904 shares or 6.06% stake. With a 8.18% stake in TDW, the T Rowe Price Mid Cap Value Fund is the largest stakeholder. A total of 4,138,536 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.80% of TDW stock, is the second-largest Mutual Fund holder. It holds 1,414,844 shares valued at 63.71 million. FFI Strategies Portfolio holds 2.37% of the stake in TDW, owning 1,198,143 shares worth 53.95 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TDW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TDW analysts setting a high price target of $56.00 and a low target of $50.00, the average target price over the next 12 months is $53.00. Based on these targets, TDW could surge 14.29% to reach the target high and rise by 2.04% to reach the target low. Reaching the average price target will result in a growth of 8.16% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TDW stock several times over the past three months with 9 Buys and 8 Sells. In these transactions, 125,898 shares were bought while 59,895 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 1,115,750 while 60,043 shares were sold.