Tesco Corp. (NASDAQ:TESO) Receives Consensus Rating of “Buy” from Brokerages
Shares of Tesco Corp. (NASDAQ:TESO) have been assigned an average recommendation of “Buy” from the seven analysts that are presently covering the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.00.
Several equities analysts recently weighed in on the stock. Barclays PLC restated a “buy” rating on shares of Tesco Corp. in a report on Monday, September 26th. Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corp. in a report on Friday, August 19th. Zacks Investment Research lowered shares of Tesco Corp. from a “buy” rating to a “hold” rating in a report on Saturday, August 13th. Finally, FBR & Co set a $9.00 target price on shares of Tesco Corp. and gave the company a “buy” rating in a research note on Wednesday, August 10th.
Tesco Corp. (NASDAQ:TESO) traded up 1.23% during trading on Monday, reaching $8.26. The company had a trading volume of 55,205 shares. The stock’s market capitalization is $383.29 million. Tesco Corp. has a 1-year low of $5.13 and a 1-year high of $9.77. The firm has a 50-day moving average of $7.31 and a 200-day moving average of $7.51.
Tesco Corp. (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Tesco Corp. had a negative net margin of 95.07% and a negative return on equity of 15.93%. The company earned $33.60 million during the quarter, compared to analysts’ expectations of $32.48 million. During the same period in the previous year, the company earned ($0.21) EPS. The business’s quarterly revenue was down 54.9% compared to the same quarter last year. On average, analysts anticipate that Tesco Corp. will post ($1.53) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of Tesco Corp. by 30.9% in the second quarter. Swiss National Bank now owns 71,600 shares of the company’s stock valued at $479,000 after buying an additional 16,900 shares during the period. Bank of New York Mellon Corp raised its position in Tesco Corp. by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 518,884 shares of the company’s stock valued at $3,472,000 after buying an additional 30,380 shares in the last quarter. HL Financial Services LLC raised its position in Tesco Corp. by 17.9% in the second quarter. HL Financial Services LLC now owns 131,903 shares of the company’s stock valued at $882,000 after buying an additional 20,010 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Tesco Corp. by 17.8% in the second quarter. Louisiana State Employees Retirement System now owns 20,500 shares of the company’s stock valued at $137,000 after buying an additional 3,100 shares in the last quarter. Finally, Gradient Investments LLC raised its position in Tesco Corp. by 85.5% in the second quarter. Gradient Investments LLC now owns 60,501 shares of the company’s stock valued at $405,000 after buying an additional 27,881 shares in the last quarter. 94.87% of the stock is owned by institutional investors and hedge funds.
About Tesco Corp.
Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.
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