Tesco Corp. (NASDAQ:TESO)‘s stock had its “buy” rating reiterated by equities research analysts at Barclays PLC in a research note issued on Monday.
A number of other brokerages have also recently issued reports on TESO. Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corp. in a research note on Friday, August 19th. Zacks Investment Research upgraded Tesco Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, FBR & Co set a $9.00 price objective on Tesco Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tesco Corp. has a consensus rating of “Buy” and an average price target of $8.56.
Tesco Corp. (NASDAQ:TESO) opened at 7.39 on Monday. The stock’s 50 day moving average is $7.24 and its 200 day moving average is $7.51. The company’s market cap is $342.92 million. Tesco Corp. has a 52-week low of $5.13 and a 52-week high of $9.77.
Tesco Corp. (NASDAQ:TESO) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The firm earned $33.60 million during the quarter, compared to the consensus estimate of $32.48 million. During the same quarter in the prior year, the firm posted ($0.21) EPS. The business’s revenue was down 54.9% on a year-over-year basis. Equities research analysts forecast that Tesco Corp. will post ($1.53) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. 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 worth $103,000 after buying an additional 2,748 shares during the period. Citadel Advisors LLC acquired a new stake in Tesco Corp. during the second quarter worth $109,000. Goldman Sachs Group Inc. boosted its stake in Tesco Corp. by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 13,306 shares of the company’s stock worth $115,000 after buying an additional 534 shares during the period. 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 worth $137,000 after buying an additional 3,100 shares during the period. Finally, Arizona State Retirement System boosted its stake in Tesco Corp. by 19.3% in the second quarter. Arizona State Retirement System now owns 24,070 shares of the company’s stock worth $161,000 after buying an additional 3,900 shares during the period. Institutional investors and hedge funds own 94.87% 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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