Tesco Corp. (TESO) Lifted to Buy at HSBC
Tesco Corp. (NASDAQ:TESO) was upgraded by analysts at HSBC to a “buy” rating in a research note issued to investors on Thursday.
Several other equities analysts also recently weighed in on the company. FBR & Co set a $9.00 target price on Tesco Corp. and gave the company a “buy” rating in a research report on Wednesday, August 10th. Barclays PLC restated a “buy” rating on shares of Tesco Corp. in a research report on Monday, September 26th. Zacks Investment Research upgraded Tesco Corp. from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Wednesday, October 12th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Tesco Corp. in a research report on Friday, August 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.42.
Shares of Tesco Corp. (NASDAQ:TESO) opened at 7.35 on Thursday. The stock’s market capitalization is $341.06 million. Tesco Corp. has a 52-week low of $5.12 and a 52-week high of $9.77. The company’s 50 day moving average price is $7.68 and its 200 day moving average price is $7.27.
Tesco Corp. (NASDAQ:TESO) last issued its quarterly earnings results on Friday, November 4th. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.37). The company had revenue of $30.40 million for the quarter, compared to the consensus estimate of $29.20 million. Tesco Corp. had a negative return on equity of 18.80% and a negative net margin of 115.95%. Tesco Corp.’s revenue for the quarter was down 50.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) earnings per share. On average, equities research analysts anticipate that Tesco Corp. will post ($1.56) EPS for the current year.
In other news, Director Gary L. Kott sold 15,432 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $7.06, for a total value of $108,949.92. Following the transaction, the director now owns 13,468 shares in the company, valued at $95,084.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of TESO. Virginia Retirement Systems ET AL bought a new stake in Tesco Corp. during the third quarter valued at approximately $103,000. D. E. Shaw & Co. Inc. bought a new stake in Tesco Corp. during the third quarter valued at approximately $106,000. 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. Citadel Advisors LLC bought a new stake in Tesco Corp. during the second quarter valued at approximately $109,000. Finally, 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. 96.86% of the stock is owned by hedge funds and other institutional investors.
Tesco Corp. Company Profile
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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