Tesco Corp. (TESO) VP Michael Irausquin Sells 4,098 Shares
Tesco Corp. (NASDAQ:TESO) VP Michael Irausquin sold 4,098 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $7.05, for a total transaction of $28,890.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Tesco Corp. (NASDAQ:TESO) traded up 1.40% on Monday, hitting $7.25. 60,771 shares of the stock traded hands. The stock’s market cap is $336.42 million. The stock has a 50-day moving average price of $7.65 and a 200 day moving average price of $7.25. Tesco Corp. has a 12-month low of $5.12 and a 12-month high of $9.77.
Tesco Corp. (NASDAQ:TESO) last posted 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 business earned $30.40 million during the quarter, compared to analyst estimates of $29.20 million. Tesco Corp. had a negative net margin of 115.95% and a negative return on equity of 18.80%. The firm’s revenue was down 50.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) earnings per share. On average, analysts anticipate that Tesco Corp. will post ($1.56) earnings per share for the current fiscal year.
Several research firms have issued reports on TESO. HSBC reiterated a “hold” rating on shares of Tesco Corp. in a research note on Sunday, October 16th. Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corp. in a research note on Friday, August 19th. Zacks Investment Research downgraded shares of Tesco Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th. FBR & Co set a $9.00 price objective on shares of Tesco Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, Barclays PLC reiterated a “buy” rating on shares of Tesco Corp. in a research note on Monday, September 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Tesco Corp. currently has an average rating of “Buy” and a consensus price target of $8.42.
Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Tesco Corp. by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,728,231 shares of the company’s stock worth $18,252,000 after buying an additional 185,057 shares during the period. Ameriprise Financial Inc. raised its stake in Tesco Corp. by 19.4% in the second quarter. Ameriprise Financial Inc. now owns 225,800 shares of the company’s stock worth $1,510,000 after buying an additional 36,764 shares during the period. Royce & Associates LP raised its stake in Tesco Corp. by 12.3% in the second quarter. Royce & Associates LP now owns 911,296 shares of the company’s stock worth $6,097,000 after buying an additional 100,000 shares during the period. Swiss National Bank raised its stake in Tesco Corp. by 30.9% in the second quarter. Swiss National Bank now owns 71,600 shares of the company’s stock worth $479,000 after buying an additional 16,900 shares during the period. Finally, Bank of New York Mellon Corp raised its stake 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 worth $3,472,000 after buying an additional 30,380 shares during the period. 96.32% of the stock is owned by institutional investors and hedge funds.
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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