Tesco Corp. Downgraded by Cantor Fitzgerald to Hold (TESO)
Tesco Corp. (NASDAQ:TESO) was downgraded by equities researchers at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research report issued on Monday, Analyst RN reports. They currently have a $353.00 price objective on the stock, down from their previous price objective of $373.00.
A number of other firms have also recently commented on TESO. Analysts at Capital One Financial Corp. downgraded shares of Tesco Corp. from an “add” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Cowen and Company reiterated a “market perform” rating on shares of Tesco Corp. in a research note to investors on Wednesday, October 9th. Finally, analysts at Nomura cut their price target on shares of Tesco Corp. from $400.00 to $370.00 in a research note to investors on Thursday, October 3rd. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Tesco Corp. presently has a consensus rating of “Hold” and an average target price of $262.70.
Shares of Tesco Corp. (NASDAQ:TESO) traded down 1.61% during mid-day trading on Monday, hitting $17.70. 230,970 shares of the company’s stock traded hands. Tesco Corp. has a one year low of $8.70 and a one year high of $18.14. The stock has a 50-day moving average of $16.70 and a 200-day moving average of $14.05. The company has a market cap of $691.1 million and a price-to-earnings ratio of 17.13.
Tesco Corp. (NASDAQ:TESO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.07. The company had revenue of $129.00 million for the quarter, compared to the consensus estimate of $129.10 million. During the same quarter last year, the company posted $0.34 earnings per share. Tesco Corp.’s revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that Tesco Corp. will post $0.98 earnings per share for the current fiscal year.
Tesco Corporation (NASDAQ:TESO) is engaged in designing, manufacturing, and service delivery of technology based solutions for the upstream energy industry.
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