Tidewater (TDW) is Downgraded by Argus to Hold

Tidewater (TDW) is Downgraded by Argus to Hold , according to the research report released to the investors. Earlier the firm had a rating of Buy on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Tidewater Inc. (NYSE:TDW) ended Thursday session in red amid volatile trading. The shares closed down 0.66 points or 9.9% at $6.01 with 3,312,038 shares getting traded. Post opening the session at $6.6, the shares hit an intraday low of $5.58 and an intraday high of $6.67 and the price vacillated in this range throughout the day. The company has a market cap of $282 million and the number of outstanding shares has been calculated to be 46,967,809 shares. The 52-week high of Tidewater Inc. (NYSE:TDW) is $33.91 and the 52-week low is $6.55.

Analysts at Zacks have given a short term rating of hold on Tidewater Inc. (NYSE:TDW) with a rank of 3. The shares has received an average rating of 3.09 from 8 brokerage firms. 2 analysts have rated the company as a strong buy. The shares has been rated as hold from 3 Wall Street Analysts. 2 analyst has also rated it as a strong sell. A sell call was given by 1 analyst.

Tidewater Inc. (NYSE:TDW): The stock price is expected to reach $ 12.33 in the short term. The number of analysts agreeing with this consensus is 6. The higher estimate for the short term price target is at $20 while the lower estimate is at $8. The standard deviation of the price stands at $4.68.

Tidewater Inc. has lost 21.34% in the last five trading days and dropped 37.11% in the last 4 weeks. Tidewater Inc. has dropped 60.84% during the last 3-month period . Year-to-Date the stock performance stands at -80.27%.

Tidewater Inc. provides offshore supply vessels and marine support services to the offshore energy industry through the operation of marine service vessels. The Company conducts its operations through wholly owned United States and international subsidiaries. It provides offshore vessel services in support of all phases of offshore exploration, field development and production, 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, ROV operations and seismic support, and a variety of specialized services, such as pipe and cable laying. As of March 31, 2013, the Company had 328 vessels (of which 10 were owned by joint ventures, 51 were stacked and two were withdrawn from service) servicing the global energy industry. The Company operates in four segments: Americas, Asia/Pacific, Middle East/North Africa, and Sub-Saharan Africa/Europe.