Shares of Tesco Corp. (NASDAQ:TESO) have received a consensus rating of “Buy” from the seven brokerages that are currently covering the stock. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.00.
Several research firms recently weighed in on TESO. FBR & Co set a $9.00 price objective on shares of Tesco Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Barclays PLC reissued a “buy” rating on shares of Tesco Corp. in a report on Monday, September 26th. Seaport Global Securities reaffirmed 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.
A number of institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. boosted its stake in Tesco Corp. by 4.1% in the first quarter. Prudential Financial Inc. now owns 92,912 shares of the company’s stock worth $800,000 after buying an additional 3,700 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Tesco Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 2,722,976 shares of the company’s stock valued at $23,445,000 after buying an additional 8,569 shares during the period. Geode Capital Management LLC raised its stake in shares of Tesco Corp. by 7.1% in the first quarter. Geode Capital Management LLC now owns 265,388 shares of the company’s stock valued at $2,284,000 after buying an additional 17,667 shares during the period. Wellington Management Group LLP raised its stake in shares of Tesco Corp. by 0.5% in the first quarter. Wellington Management Group LLP now owns 5,490,036 shares of the company’s stock valued at $47,270,000 after buying an additional 29,257 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Tesco Corp. by 16.0% in the first quarter. Renaissance Technologies LLC now owns 346,500 shares of the company’s stock valued at $2,983,000 after buying an additional 47,784 shares during the period. Institutional investors and hedge funds own 94.87% of the company’s stock.
Tesco Corp. (NASDAQ:TESO) traded up 1.23% during midday trading on Monday, reaching $8.26. 55,205 shares of the company’s stock traded hands. The stock has a 50-day moving average of $7.31 and a 200 day moving average of $7.51. The company’s market cap is $383.29 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) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Tesco Corp. had a negative net margin of 95.07% and a negative return on equity of 15.93%. The business had revenue of $33.60 million for the quarter, compared to the consensus estimate of $32.48 million. During the same period in the prior year, the company posted ($0.21) earnings per share. Tesco Corp.’s revenue was down 54.9% compared to the same quarter last year. On average, analysts anticipate that Tesco Corp. will post ($1.53) earnings per share for the current fiscal year.
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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