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Tidewater (TDW) Shows Signs Of Being Water-Logged And Getting Wetter

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Tidewater ( TDW) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Tidewater as such a stock due to the following factors:

  • TDW has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $35.0 million.
  • TDW has traded 116,905 shares today.
  • TDW traded in a range 218.2% of the normal price range with a price range of $3.15.
  • TDW traded below its daily resistance level (quality: 322 days, meaning that the stock is crossing a resistance level set by the last 322 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on TDW:

Tidewater Inc. provides offshore service vessels and marine support services through the operation of a fleet of marine service vessels. The stock currently has a dividend yield of 2%. TDW has a PE ratio of 15.6. Currently there are 8 analysts that rate Tidewater a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Tidewater has been 439,900 shares per day over the past 30 days. Tidewater has a market cap of $2.5 billion and is part of the basic materials sector and energy industry. The stock has a beta of 1.69 and a short float of 4% with 2.66 days to cover. Shares are down 14.8% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Tidewater as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, increase in net income, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:

  • TDW's revenue growth has slightly outpaced the industry average of 8.1%. Since the same quarter one year prior, revenues rose by 17.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • TIDEWATER INC has improved earnings per share by 31.3% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, TIDEWATER INC increased its bottom line by earning $3.04 versus $1.72 in the prior year. This year, the market expects an improvement in earnings ($4.10 versus $3.04).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Energy Equipment & Services industry average. The net income increased by 31.0% when compared to the same quarter one year prior, rising from $41.36 million to $54.17 million.
  • 44.74% is the gross profit margin for TIDEWATER INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 14.72% is above that of the industry average.

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