Barclays Maintains an 'Overweight' on Tidewater (TDW); Dayrates Climb, But Adjusting Numbers Lower on Expenses
Tweet
Share
E-mailGet Alerts TDW Hot Sheet
Price: $94.28 +3.02%
Rating Summary:
8 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Tidewater Inc (NYSE: TDW) price target lowered from $73 to $71.
Analyst, James C. West, said, "We believe the supply vessel upturn that began in 2H11 is gaining momentum and will accelerate going into FY2013. Strong demand for new and high-spec vessels is being driven by a pickup in offshore spending, particularly in deepwater...Substantial earnings power should be evident as the cycle starts to ramp."
However, West sees cost expenses related to repairing of company drydocks, therefore, he lowered FY13 EPS estimate from $4.80 to $4.50. FY14 maintained at $6.90.
For an analyst ratings summary and ratings history on Tidewater Inc click here. For more ratings news on Tidewater Inc click here.
Shares of Tidewater Inc closed at $45.74 yesterday.
Analyst, James C. West, said, "We believe the supply vessel upturn that began in 2H11 is gaining momentum and will accelerate going into FY2013. Strong demand for new and high-spec vessels is being driven by a pickup in offshore spending, particularly in deepwater...Substantial earnings power should be evident as the cycle starts to ramp."
However, West sees cost expenses related to repairing of company drydocks, therefore, he lowered FY13 EPS estimate from $4.80 to $4.50. FY14 maintained at $6.90.
For an analyst ratings summary and ratings history on Tidewater Inc click here. For more ratings news on Tidewater Inc click here.
Shares of Tidewater Inc closed at $45.74 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Barclays, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
