Tesco (TESO) Stock Rating Reaffirmed by B. Riley

Tesco (NASDAQ:TESO)‘s stock had its “hold” rating restated by research analysts at B. Riley in a report issued on Friday.

Several other brokerages also recently commented on TESO. Cowen set a $5.00 target price on shares of Tesco and gave the company a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised shares of Tesco from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. ValuEngine downgraded shares of Tesco from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Goldman Sachs Group raised shares of Tesco from a “neutral” rating to a “buy” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Shares of Tesco (NASDAQ:TESO) traded down $0.25 during trading hours on Friday, reaching $3.70. 15,653,700 shares of the company’s stock traded hands, compared to its average volume of 484,356. Tesco has a 1 year low of $3.60 and a 1 year high of $9.65. The company has a market capitalization of $173.00, a P/E ratio of -2.94 and a beta of 1.17.

Tesco (NASDAQ:TESO) last issued its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. Tesco had a negative net margin of 38.60% and a negative return on equity of 16.27%. The firm had revenue of $40.50 million during the quarter, compared to the consensus estimate of $43.24 million. During the same quarter in the prior year, the firm earned ($0.37) earnings per share. The business’s quarterly revenue was up 33.2% on a year-over-year basis. equities research analysts predict that Tesco will post -0.94 earnings per share for the current year.

In other news, CEO Fernando Rafael Assing sold 7,146 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $4.20, for a total transaction of $30,013.20. Following the completion of the sale, the chief executive officer now owns 164,247 shares of the company’s stock, valued at $689,837.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 40,633 shares of company stock valued at $161,340 in the last three months. 1.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Virginia Retirement Systems ET AL bought a new stake in shares of Tesco during the second quarter worth $105,000. Voya Investment Management LLC grew its position in Tesco by 25.9% in the second quarter. Voya Investment Management LLC now owns 24,546 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 5,046 shares in the last quarter. Susquehanna International Group LLP bought a new position in Tesco in the second quarter valued at $128,000. Tudor Investment Corp ET AL grew its position in Tesco by 180.1% in the second quarter. Tudor Investment Corp ET AL now owns 29,332 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 18,861 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in Tesco in the third quarter valued at $654,000. 87.10% of the stock is owned by institutional investors.

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About Tesco

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.

Analyst Recommendations for Tesco (NASDAQ:TESO)

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