Tesco Corporation (TESO) Issues Earnings Results
Tesco Corporation (NASDAQ:TESO) released its quarterly earnings data on Tuesday. The oil and gas company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.01, MarketWatch Earnings reports. Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The firm had revenue of $40.10 million during the quarter, compared to analysts’ expectations of $41.01 million. During the same period in the previous year, the firm posted ($0.39) EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis.
Shares of Tesco Corporation (NASDAQ TESO) opened at 4.40 on Tuesday. The stock’s 50 day moving average is $4.32 and its 200-day moving average is $6.45. The stock’s market cap is $205.57 million. Tesco Corporation has a 1-year low of $3.70 and a 1-year high of $9.65.
A number of research analysts have weighed in on the stock. Cowen and Company cut their price objective on shares of Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, June 5th. Zacks Investment Research cut shares of Tesco Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, May 13th. Finally, Seaport Global Securities cut their target price on shares of Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $7.00.
A number of institutional investors have recently bought and sold shares of TESO. Royce & Associates LP increased its position in Tesco Corporation by 32.5% in the second quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock valued at $3,904,000 after buying an additional 215,400 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Tesco Corporation during the second quarter valued at $105,000. Tocqueville Asset Management L.P. acquired a new position in Tesco Corporation during the second quarter valued at $2,193,000. Legal & General Group Plc increased its position in Tesco Corporation by 8.9% in the second quarter. Legal & General Group Plc now owns 85,977 shares of the oil and gas company’s stock valued at $382,000 after buying an additional 6,991 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Tesco Corporation by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 643,469 shares of the oil and gas company’s stock valued at $2,864,000 after buying an additional 42,690 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/08/08/tesco-corporation-teso-issues-earnings-results.html.
Tesco Corporation 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.
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.