Tidewater Inc. [TDW] Revenue clocked in at $466.80 million, up 189.82% YTD: What’s Next?

Tidewater Inc. [NYSE: TDW] traded at a low on 11/09/22, posting a -6.84 loss after which it closed the day’ session at $31.04. The company report on November 8, 2022 that Tidewater Announces Pricing of Public Offering of Common Stock.

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Tidewater Inc. (NYSE: TDW) (the “Company” or “Tidewater”) today announced the pricing of its registered underwritten public offering of 3,987,914 shares of its common stock at a public offering price of $30.25 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $120,634,398. The Company intends to use the net proceeds from the offering (before expenses) to repurchase from Banyan Overseas Limited (“Banyan”) a number of warrants exercisable for shares of the Company’s common stock (“Warrants”) equal to the number of shares of the Company’s common stock sold in the offering. The Warrants were issued to Banyan in connection with the Company’s acquisition of all of the issued and outstanding shares of Swire Pacific Offshore Holdings Limited (now known as Tidewater Offshore Holdings Limited) from Banyan.

Morgan Stanley is acting as the sole underwriter for the offering. The offering is expected to close on November 10, 2022, subject to the satisfaction of customary closing conditions.

The results of the trading session contributed to over 3368868 shares changing hands. Over the past one week, the price volatility of Tidewater Inc. stands at 7.05% while the volatility over the past one month is 6.17%.

The market cap for TDW stock reached $1.53 billion, with 46.24 million shares outstanding and 45.78 million shares in the current float. Compared to the average trading volume of 516.96K shares, TDW reached a trading volume of 3368868 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Tidewater Inc. [TDW]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TDW shares is $30.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TDW stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Tidewater Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 06, 2022. The new note on the price target was released on March 09, 2020, representing the official price target for Tidewater Inc. stock.

The Average True Range (ATR) for Tidewater Inc. is set at 1.94, with the Price to Sales ratio for TDW stock in the period of the last 12 months amounting to 3.27. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 1.79.

How has TDW stock performed recently?

Tidewater Inc. [TDW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.57. With this latest performance, TDW shares gained by 32.88% in over the last four-week period, additionally plugging by 52.61% over the last 6 months – not to mention a rise of 136.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TDW stock in for the last two-week period is set at 55.94, with the RSI for the last a single of trading hit 49.77, and the three-weeks RSI is set at 58.44 for Tidewater Inc. [TDW]. The present Moving Average for the last 50 days of trading for this stock 26.10, while it was recorded at 33.14 for the last single week of trading, and 21.86 for the last 200 days.

Tidewater Inc. [TDW]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Tidewater Inc. [TDW] shares currently have an operating margin of -20.41 and a Gross Margin at -2.04. Tidewater Inc.’s Net Margin is presently recorded at -34.76.

Return on Equity for this stock declined to -16.93, with Return on Assets sitting at -10.99.

Tidewater Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.80.

Earnings analysis for Tidewater Inc. [TDW]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TDW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tidewater Inc. go to 5.00%.

Insider trade positions for Tidewater Inc. [TDW]

There are presently around $1,062 million, or 79.70% of TDW stock, in the hands of institutional investors. The top three institutional holders of TDW stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 7,577,289, which is approximately -2.207% of the company’s market cap and around 1.10% of the total institutional ownership; ROBOTTI ROBERT, holding 2,751,305 shares of the stock with an approximate value of $85.4 million in TDW stocks shares; and BLACKROCK INC., currently with $84.96 million in TDW stock with ownership of nearly 1.54% of the company’s market capitalization.

Positions in Tidewater Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 63 institutional holders increased their position in Tidewater Inc. [NYSE:TDW] by around 2,955,841 shares. Additionally, 48 investors decreased positions by around 1,314,806 shares, while 27 investors held positions by with 29,952,992 shares. The mentioned changes placed institutional holdings at 34,223,639 shares, according to the latest SEC report filing. TDW stock had 23 new institutional investments in for a total of 1,542,677 shares, while 11 institutional investors sold positions of 324,377 shares during the same period.


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