Tesco Corporation (TESO) Upgraded to Hold at Zacks Investment Research
Tesco Corporation (NASDAQ:TESO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Tesco Corporation is engaged in the designing, manufacturing and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service include equipment sales and services to drilling contractors and oil and gas operating companies. It operates in three segments, Top Drive, Tubular Services, and CASING DRILLING. Tesco Corporation is headquartered in Houston, Texas. “
Several other equities analysts also recently commented on the company. ValuEngine downgraded Tesco Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. FBR & Co set a $7.00 target price on Tesco Corporation and gave the company a “buy” rating in a research report on Wednesday, August 16th. Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corporation in a research report on Wednesday, August 9th. Finally, Cowen and Company dropped their target price on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.50.
Shares of Tesco Corporation (TESO) opened at 5.03 on Friday. The firm’s market capitalization is $234.94 million. The company has a 50-day moving average price of $4.43 and a 200-day moving average price of $5.57. Tesco Corporation has a 12 month low of $3.70 and a 12 month high of $9.65.
Tesco Corporation (NASDAQ:TESO) last posted its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $40.10 million during the quarter, compared to the consensus estimate of $41.01 million. Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. Tesco Corporation’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.39) earnings per share. Equities analysts forecast that Tesco Corporation will post ($0.94) EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Swiss National Bank increased 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 period. OppenheimerFunds Inc. increased its stake in shares of Tesco Corporation 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. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Tesco Corporation by 24.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 337,641 shares of the oil and gas company’s stock valued at $1,503,000 after buying an additional 66,470 shares during the period. Prudential Financial Inc. increased its stake in shares of Tesco Corporation by 0.4% in the first quarter. Prudential Financial Inc. now owns 78,492 shares of the oil and gas company’s stock valued at $632,000 after buying an additional 330 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Tesco Corporation in the first quarter valued at about $154,000. 91.12% of the stock is owned by institutional investors.
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.
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