Tesco Corp. (TESO) Receives Hold Rating from HSBC
Tesco Corp. (NASDAQ:TESO)‘s stock had its “hold” rating reaffirmed by equities research analysts at HSBC in a research report issued on Sunday.
Several other research firms also recently commented on TESO. Zacks Investment Research raised Tesco Corp. from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Wednesday, October 12th. Barclays PLC reaffirmed a “buy” rating on shares of Tesco Corp. in a research report on Monday, September 26th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corp. in a research report on Friday, August 19th. Finally, FBR & Co set a $9.00 price objective on Tesco Corp. and gave the company a “buy” rating in a research report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tesco Corp. has an average rating of “Buy” and a consensus target price of $8.83.
Shares of Tesco Corp. (NASDAQ:TESO) traded down 1.25% during midday trading on Friday, reaching $7.90. 25,395 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $7.58 and a 200-day moving average price of $7.50. Tesco Corp. has a 52-week low of $5.13 and a 52-week high of $9.77. The stock’s market cap is $366.58 million.
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Tesco Corp. (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.03. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The business earned $33.60 million during the quarter, compared to analyst estimates of $32.48 million. During the same quarter last year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was down 54.9% on a year-over-year basis. Analysts forecast that Tesco Corp. will post ($1.53) earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Tesco Corp. by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 256,906 shares of the company’s stock worth $1,860,000 after buying an additional 11,305 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tesco Corp. by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,177 shares of the company’s stock worth $16,653,000 after buying an additional 25,710 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Tesco Corp. by 22.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 197,919 shares of the company’s stock worth $1,433,000 after buying an additional 36,318 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Tesco Corp. by 2.7% in the fourth quarter. Thrivent Financial For Lutherans now owns 234,394 shares of the company’s stock worth $1,697,000 after buying an additional 6,200 shares in the last quarter. Finally, Foundry Partners LLC raised its position in shares of Tesco Corp. by 3.6% in the first quarter. Foundry Partners LLC now owns 220,302 shares of the company’s stock worth $1,897,000 after buying an additional 7,625 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.
Tesco Corp. Company Profile
Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.
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