HSBC reiterated their hold rating on shares of Tesco Corp. (NASDAQ:TESO) in a research report sent to investors on Monday.

“HSBC Reiterates a Hold Rating on Tesco Corp | Analyst Ratings

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Home » HSBC Reiterates a Hold Rating on Tesco Corp,” HSBC’s analyst wrote.

TESO has been the topic of a number of other reports. FBR & Co set a $9.00 price objective on Tesco Corp. and gave the company a buy rating in a report on Wednesday, August 10th. Barclays PLC restated a buy rating on shares of Tesco Corp. in a research note on Monday, September 26th. Seaport Global Securities restated a neutral rating on shares of Tesco Corp. in a research note on Friday, August 19th. Finally, Zacks Investment Research downgraded Tesco Corp. from a buy rating to a hold rating in a research note on Saturday, August 13th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tesco Corp. currently has an average rating of Buy and a consensus price target of $8.56.

Shares of Tesco Corp. (NASDAQ:TESO) traded down 1.70% during mid-day trading on Monday, reaching $8.65. The company had a trading volume of 11,101 shares. The company’s market capitalization is $401.39 million. Tesco Corp. has a 52 week low of $5.13 and a 52 week high of $9.77. The stock has a 50 day moving average of $7.46 and a 200-day moving average of $7.48.

Tesco Corp. (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The business had revenue of $33.60 million for the quarter, compared to analyst estimates of $32.48 million. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The company’s revenue was down 54.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, analysts expect that Tesco Corp. will post ($1.53) earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in TESO. American International Group Inc. boosted its stake in Tesco Corp. by 3.0% in the second quarter. American International Group Inc. now owns 30,323 shares of the company’s stock valued at $203,000 after buying an additional 881 shares in the last quarter. Barclays PLC boosted its stake in Tesco Corp. by 2.8% in the first quarter. Barclays PLC now owns 34,462 shares of the company’s stock valued at $276,000 after buying an additional 947 shares in the last quarter. Profund Advisors LLC boosted its stake in Tesco Corp. by 21.7% in the second quarter. Profund Advisors LLC now owns 15,406 shares of the company’s stock valued at $103,000 after buying an additional 2,748 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake 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, Teachers Advisors Inc. boosted its stake in Tesco Corp. by 0.6% in the second quarter. Teachers Advisors Inc. now owns 561,985 shares of the company’s stock valued at $3,760,000 after buying an additional 3,363 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.

5 Day Chart for NASDAQ:TESO

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