FY2016 EPS Estimates for Tesco Corp. Reduced by FBR & Co (TESO)
Tesco Corp. (NASDAQ:TESO) – Stock analysts at FBR & Co decreased their FY2016 EPS estimates for shares of Tesco Corp. in a research report issued to clients and investors on Tuesday. FBR & Co analyst T. Curran now expects that the brokerage will post earnings per share of ($1.55) for the year, down from their previous forecast of ($1.54). FBR & Co has a “Buy” rating and a $9.00 price objective on the stock. FBR & Co also issued estimates for Tesco Corp.’s Q4 2016 earnings at ($0.34) EPS, Q1 2017 earnings at ($0.26) EPS, Q2 2017 earnings at ($0.18) EPS, Q4 2017 earnings at ($0.08) EPS, FY2017 earnings at ($0.63) EPS and FY2018 earnings at ($0.11) EPS.
Tesco Corp. (NASDAQ:TESO) last announced its earnings results on Friday, November 4th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). Tesco Corp. had a negative net margin of 115.95% and a negative return on equity of 18.80%. The company had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $29.20 million. During the same quarter in the previous year, the company posted ($0.32) EPS. The firm’s quarterly revenue was down 50.5% on a year-over-year basis.
Several other brokerages also recently weighed in on TESO. Zacks Investment Research raised Tesco Corp. from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Wednesday, October 12th. HSBC reaffirmed a “hold” rating on shares of Tesco Corp. in a report on Sunday, October 16th. Barclays PLC reaffirmed a “buy” rating on shares of Tesco Corp. in a report on Monday, September 26th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corp. in a report on Friday, August 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.42.
Tesco Corp. (NASDAQ:TESO) opened at 7.50 on Friday. The firm’s market cap is $348.00 million. Tesco Corp. has a 12 month low of $5.13 and a 12 month high of $9.77. The stock’s 50 day moving average is $7.68 and its 200 day moving average is $7.32.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Tesco Corp. by 3.1% in the third quarter. Principal Financial Group Inc. now owns 335,719 shares of the company’s stock valued at $2,739,000 after buying an additional 10,124 shares during the last quarter. Northern Trust Corp boosted its position in shares of Tesco Corp. by 13.4% in the third quarter. Northern Trust Corp now owns 522,281 shares of the company’s stock worth $4,262,000 after buying an additional 61,727 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Tesco Corp. by 18.9% in the third quarter. California State Teachers Retirement System now owns 97,641 shares of the company’s stock worth $797,000 after buying an additional 15,500 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Tesco Corp. by 3.2% in the third quarter. Ameriprise Financial Inc. now owns 233,037 shares of the company’s stock worth $1,901,000 after buying an additional 7,237 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Tesco Corp. by 6.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,102,556 shares of the company’s stock worth $8,997,000 after buying an additional 71,001 shares in the last quarter. Hedge funds and other institutional investors own 95.24% of the company’s stock.
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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