Market Overview

FIG Partners Reiterates $52 PT on Reduced Q4 2013 and FY2014 Estimates

Related TDW
Mid-Morning Market Update: Markets Open Lower; United Technologies To Buy Rockwell Collins For $30 Billion
Mid-Afternoon Market Update: AMC Entertainment Drops Amid Q2 Warning; Spirit AeroSystems Shares Surge

In a report published Monday, FIG Partners reiterated its $52.00 price target on Tidewater (NYSE: TDW).

FIG Partners noted, “We believe that the market conditions and the demand for TDW's services will continue to improve. There are 85 jack-ups currently being under construction around the world. Out of these rigs 50 are expected to enter the market in the next 12 months and will translate in additional demand for offshore supply vessels. In addition, the supply side of the equation continues to improve as well since operators continue scrapping old vessels. We do believe in the long term prospects of the company. However, we have to take into account the short term weakness which will lead to a lower starting point for the growth that we have expected to see in FY 2014. We are bringing down our Q4, FY 2013 and FY 2014 estimates. Our new EPS estimates are as follows: new Q4 EPS $0.65 down from $0.89; new FY 2013 EPS $2.63 down from $2.73; new FY 2014 $4.50 down from $4.76.”

Tidewater closed on Friday at $50.10.

Latest Ratings for TDW

Oct 2016Argus ResearchDowngradesHoldSell
Aug 2016Johnson RiceDowngradesAccumulateHold
May 2016iBERIA Capital PartnersDowngradesOutperformSector Perform

View More Analyst Ratings for TDW
View the Latest Analyst Ratings

Posted-In: FIG PartnersAnalyst Color Reiteration Analyst Ratings


Related Articles (TDW)

View Comments and Join the Discussion!

Partner Center