Tesco Co. (TESO) Given Average Recommendation of “Hold” by Analysts

Shares of Tesco Co. (NASDAQ:TESO) have received an average recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.00.

A number of research analysts have commented on the stock. B. Riley reiterated a “hold” rating on shares of Tesco in a research report on Friday, December 22nd. Goldman Sachs Group upgraded shares of Tesco from a “neutral” rating to a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of Tesco from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Cowen set a $5.00 price target on shares of Tesco and gave the company a “hold” rating in a research report on Friday, October 6th.

Tesco (TESO) opened at $3.70 on Monday. The firm has a market cap of $173.00, a P/E ratio of -2.94 and a beta of 1.17. Tesco has a 52-week low of $3.60 and a 52-week high of $9.65.

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

In other Tesco news, CEO Fernando Rafael Assing sold 9,293 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total transaction of $35,313.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 40,633 shares of company stock worth $161,340 over the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Tesco by 9.8% during the second quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock valued at $31,187,000 after purchasing an additional 624,404 shares during the period. K2 Principal Fund L.P. purchased a new stake in shares of Tesco during the third quarter valued at approximately $2,976,000. Dimensional Fund Advisors LP boosted its stake in shares of Tesco by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,993,039 shares of the oil and gas company’s stock valued at $13,319,000 after purchasing an additional 263,160 shares during the period. Kassirer Asset Management Corp purchased a new stake in shares of Tesco during the third quarter valued at approximately $912,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Tesco by 237.6% during the third quarter. GSA Capital Partners LLP now owns 188,300 shares of the oil and gas company’s stock valued at $1,026,000 after purchasing an additional 132,531 shares during the period. Institutional investors and hedge funds own 87.10% of the company’s stock.

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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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