For the current quarter, the 9.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.74 a share, which would compare with $0.18 in the same quarter last year. They have a high estimate of $-0.57 and a low estimate of $-0.85. Revenue for the period is expected to total nearly $169.75M from $304.77M the year-ago period.
For the full year, 11.00 Wall Street analysts forecast this company would deliver earnings of -3.27 per share, with a high estimate of $-2.45 and a low estimate of $-3.82. It had reported earnings per share of $-0.84 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $650.48M versus 979.06M in the preceding year.
The analysts project the company to maintain annual growth of around 5.00% percent over the next five years as compared to an average growth rate of 8.97% percent expected for its competitors in the same industry.
Among the 7 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for TDW is $5.29 but some analysts are projecting the price to go as high as $8.50. If the optimistic analysts are correct, that represents a 53 percent upside potential from the recent closing price of $5.55. Some sell-side analysts, particularly the bearish ones, have called for $3.00 price targets on shares of Tidewater Inc. (NYSE:TDW).
In the last reported results, the company reported earnings of $0.18 per share, while analysts were calling for share earnings of $0.22. It was an earnings surprise of -18.20%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Tidewater Inc. provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. The company operates through Americas, Asia/Pacific, Middle East/North Africa, and Sub-Saharan Africa/Europe segments. It provides services in support 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, remotely operated vehicle (ROV) operations, and seismic and subsea support; and various specialized services, such as pipe and cable laying. The company operates and charters deepwater vessels, including platform supply vessels, and anchor handling towing supply vessels that are used in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs and production platforms; towing-supply vessels for use in intermediate and shallow waters; and crew boats and utility vessels for use in transporting personnel and supplies from shore bases to offshore drilling rigs, platforms, and other installations. It also operates offshore tugs used for towing floating drilling rigs and barges; and assisting in the docking of tankers, as well as in pipe laying, cable laying, and construction barges. The company serves international oil and natural gas exploration, field development, and production companies; select independent exploration and production companies; foreign government-owned or government-controlled organizations and other companies; drilling contractors; and other companies, including offshore construction companies, diving companies, and well stimulation companies. As of March 31, 2016, it owned or chartered 269 vessels and 8 ROVs. Tidewater Inc. was founded in 1956 and is headquartered in New Orleans, Louisiana.
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