Wall Street brokerages expect Tesco Corporation (NASDAQ:TESO) to report sales of $43.67 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Tesco Corporation’s earnings, with the highest sales estimate coming in at $44.70 million and the lowest estimate coming in at $43.00 million. Tesco Corporation reported sales of $30.40 million during the same quarter last year, which indicates a positive year over year growth rate of 43.7%. The firm is scheduled to report its next quarterly earnings report on Friday, November 3rd.

According to Zacks, analysts expect that Tesco Corporation will report full-year sales of $43.67 million for the current fiscal year, with estimates ranging from $163.40 million to $169.00 million. For the next financial year, analysts forecast that the business will post sales of $205.87 million per share, with estimates ranging from $184.80 million to $232.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Tesco Corporation.

Tesco Corporation (NASDAQ:TESO) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). Tesco Corporation had a negative return on equity of 18.21% and a negative net margin of 47.72%. The company had revenue of $40.10 million during the quarter, compared to the consensus estimate of $41.01 million. During the same period in the previous year, the company earned ($0.39) earnings per share. Tesco Corporation’s quarterly revenue was up 19.3% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. Cowen and Company set a $5.00 price objective on shares of Tesco Corporation and gave the company a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of Tesco Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. ValuEngine cut shares of 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 price target on shares of Tesco Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corporation in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Tesco Corporation presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Tesco Corporation (NASDAQ TESO) remained flat at $5.25 during trading on Tuesday. The stock had a trading volume of 315,975 shares. Tesco Corporation has a 52 week low of $3.70 and a 52 week high of $9.65. The company’s market capitalization is $245.46 million. The company has a 50-day moving average price of $4.91 and a 200-day moving average price of $5.18.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Tesco Corporation by 9.8% in the 2nd quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock worth $31,187,000 after purchasing an additional 624,404 shares during the period. Vanguard Group Inc. lifted its position in shares of Tesco Corporation by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 4,143,095 shares of the oil and gas company’s stock worth $33,352,000 after purchasing an additional 72,918 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Tesco Corporation by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,993,039 shares of the oil and gas company’s stock worth $13,319,000 after purchasing an additional 263,160 shares during the period. State Street Corp lifted its position in shares of Tesco Corporation by 3.6% in the 2nd quarter. State Street Corp now owns 1,061,705 shares of the oil and gas company’s stock worth $4,723,000 after purchasing an additional 37,244 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Tesco Corporation by 32.5% in the 2nd quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock worth $3,904,000 after purchasing an additional 215,400 shares during the period. 91.12% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Tesco Corporation (NASDAQ:TESO)

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