Tesco Corporation (TESO) Given Average Rating of “Hold” by Analysts
Shares of Tesco Corporation (NASDAQ:TESO) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.00.
TESO has been the topic of several recent research reports. Cowen and Company decreased their price target on shares of Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating on the stock in a research report on Monday, June 5th. Seaport Global Securities decreased their price target on shares of Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded shares of Tesco Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, May 10th.
Shares of Tesco Corporation (TESO) opened at 4.50 on Monday. The company has a 50-day moving average price of $4.38 and a 200-day moving average price of $6.75. Tesco Corporation has a 1-year low of $3.70 and a 1-year high of $9.65. The stock’s market cap is $210.24 million.
Tesco Corporation (NASDAQ:TESO) last posted its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.29). The firm had revenue of $36.70 million for the quarter, compared to analyst estimates of $35.65 million. Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.46) earnings per share. On average, equities analysts expect that Tesco Corporation will post ($0.92) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of TESO. Citadel Advisors LLC purchased a new position in Tesco Corporation during the first quarter worth approximately $108,000. OppenheimerFunds Inc. raised its position in Tesco Corporation by 21.5% in the first quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock worth $109,000 after buying an additional 2,404 shares in the last quarter. KCG Holdings Inc. purchased a new position in Tesco Corporation during the first quarter worth approximately $116,000. Dynamic Technology Lab Private Ltd purchased a new position in Tesco Corporation during the first quarter worth approximately $144,000. Finally, Louisiana State Employees Retirement System raised its position in Tesco Corporation 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 worth $153,000 after buying an additional 300 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.
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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.
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