Tesco Corporation (NASDAQ:TESO) has been assigned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.00.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Tesco Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Cowen and Company dropped their price target on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a research note on Monday, June 5th. Finally, Seaport Global Securities dropped their price target on Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 10th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Tennessee Treasury Department raised its position in shares of Tesco Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 43,672 shares of the oil and gas company’s stock valued at $352,000 after buying an additional 6,591 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Tesco Corporation by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 248,609 shares of the oil and gas company’s stock valued at $2,001,000 after buying an additional 13,077 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Tesco Corporation by 4.6% in the first quarter. TD Asset Management Inc. now owns 29,400 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 1,300 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Tesco Corporation during the first quarter valued at about $266,000. Finally, Swiss National Bank raised its position in shares of Tesco Corporation by 6.7% in the first quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 4,800 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
Shares of Tesco Corporation (TESO) opened at 4.05 on Monday. The firm’s market capitalization is $189.14 million. The stock has a 50 day moving average price of $4.35 and a 200 day moving average price of $6.28. Tesco Corporation has a 1-year low of $3.70 and a 1-year high of $9.65.
Tesco Corporation (NASDAQ:TESO) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.01. Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. The firm had revenue of $40.10 million during the quarter, compared to the consensus estimate of $41.01 million. During the same quarter in the previous year, the company posted ($0.39) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Tesco Corporation will post ($0.93) earnings per share for the current fiscal year.
Tesco Corporation Company Profile
Tesco Corporation is a provider of technology-based solutions for drilling, servicing and completion of wells for the upstream energy industry. The Company’s operations consist of top drives and automated pipe handling equipment sales and rentals; aftermarket sales and services, and tubular services, including related products and accessories sales.
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