FBR & Co Brokers Cut Earnings Estimates for Tesco Co. (TESO)
Tesco Co. (NASDAQ:TESO) – Investment analysts at FBR & Co decreased their Q2 2017 earnings per share (EPS) estimates for Tesco in a research report issued on Monday. FBR & Co analyst T. Curran now anticipates that the oil and gas company will post earnings per share of ($0.26) for the quarter, down from their prior forecast of ($0.22). FBR & Co currently has a “Buy” rating and a $9.00 price target on the stock. FBR & Co also issued estimates for Tesco’s Q3 2017 earnings at ($0.22) EPS, Q4 2017 earnings at ($0.14) EPS, Q1 2018 earnings at ($0.12) EPS, Q2 2018 earnings at ($0.07) EPS, Q3 2018 earnings at ($0.04) EPS and Q4 2018 earnings at ($0.02) EPS.
A number of other equities analysts have also issued reports on TESO. Seaport Global Securities reduced their price target on shares of Tesco from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, May 10th. Zacks Investment Research lowered shares of Tesco from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Cowen and Company lowered shares of Tesco from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $10.00 to $9.00 in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.75.
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Tesco (NASDAQ:TESO) opened at 5.00 on Wednesday. Tesco has a 52-week low of $4.90 and a 52-week high of $9.65. The company’s market capitalization is $233.50 million. The stock’s 50 day moving average is $6.68 and its 200-day moving average is $7.84.
Tesco (NASDAQ:TESO) last released its earnings results on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.29). Tesco had a negative net margin of 115.95% and a negative return on equity of 18.80%. The firm had revenue of $36.70 million during the quarter, compared to the consensus estimate of $35.65 million. During the same period in the prior year, the firm earned ($0.46) EPS. The company’s revenue was up 3.4% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of TESO. Citadel Advisors LLC acquired a new position in Tesco during the first quarter worth about $108,000. OppenheimerFunds Inc. raised its position in Tesco by 21.5% in the first quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 2,404 shares during the period. KCG Holdings Inc. purchased a new position in Tesco during the first quarter valued at $116,000. Dynamic Technology Lab Private Ltd purchased a new position in Tesco during the first quarter valued at $144,000. Finally, Louisiana State Employees Retirement System raised its position in Tesco by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 300 shares during the period. 94.50% of the stock is owned by institutional investors.
In other Tesco news, Director Fred J. Dyment sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $8.76, for a total transaction of $175,200.00. Following the completion of the transaction, the director now directly owns 39,530 shares of the company’s stock, valued at approximately $346,282.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
Tesco Company Profile
Tesco Corporation is a provider of technology-based solutions for drilling, servicing and completion of wells for the upstream energy industry. The Company’s operations consist of top drives and automated pipe handling equipment sales and rentals; aftermarket sales and services, and tubular services, including related products and accessories sales.
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