Tesco Corporation (TESO) Expected to Post Earnings of -$0.24 Per Share
Analysts predict that Tesco Corporation (NASDAQ:TESO) will report earnings of ($0.24) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Tesco Corporation’s earnings. The lowest EPS estimate is ($0.26) and the highest is ($0.23). Tesco Corporation posted earnings per share of ($0.39) in the same quarter last year, which suggests a positive year-over-year growth rate of 38.5%. The business is expected to issue its next earnings results on Tuesday, August 8th.
On average, analysts expect that Tesco Corporation will report full-year earnings of ($0.91) per share for the current year, with EPS estimates ranging from ($0.95) to ($0.89). For the next financial year, analysts forecast that the business will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.61) to ($0.23). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Tesco Corporation.
Tesco Corporation (NASDAQ:TESO) last announced its earnings results on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.29). Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The business had revenue of $36.70 million during the quarter, compared to analyst estimates of $35.65 million. During the same period in the previous year, the business posted ($0.46) earnings per share. Tesco Corporation’s revenue for the quarter was up 3.4% on a year-over-year basis.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Tesco Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, May 10th. FBR & Co reiterated a “buy” rating and set a $9.00 target price on shares of Tesco Corporation in a research report on Sunday, March 12th. Seaport Global Securities decreased their target price on Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, May 10th. Finally, Cowen and Company cut their price target on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $7.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp acquired a new stake in Tesco Corporation during the first quarter worth approximately $266,000. Swiss National Bank boosted its stake in shares of Tesco Corporation by 6.7% in the first quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 4,800 shares during the last quarter. Comerica Bank boosted its stake in shares of Tesco Corporation by 4.8% in the first quarter. Comerica Bank now owns 51,436 shares of the oil and gas company’s stock valued at $347,000 after buying an additional 2,357 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tesco Corporation by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 600,779 shares of the oil and gas company’s stock valued at $4,837,000 after buying an additional 15,259 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Tesco Corporation by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 61,673 shares of the oil and gas company’s stock valued at $493,000 after buying an additional 4,420 shares during the last quarter. 95.27% of the stock is owned by institutional investors.
Shares of Tesco Corporation (TESO) opened at 4.35 on Friday. The company’s market capitalization is $203.24 million. The firm’s 50-day moving average is $4.61 and its 200 day moving average is $7.17. Tesco Corporation has a 12 month low of $3.70 and a 12 month high of $9.65.
About Tesco Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tesco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.