Tesco Corp. (NASDAQ:TESO)‘s stock had its “buy” rating reissued by equities research analysts at Barclays PLC in a note issued to investors on Monday.
TESO has been the subject of several other research reports. FBR & Co set a $9.00 target price on shares of Tesco Corp. and gave the stock a “buy” rating in a report on Wednesday, August 10th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corp. in a report on Friday, August 19th. Finally, Zacks Investment Research downgraded shares of Tesco Corp. from a “buy” rating to a “hold” rating in a report on Saturday, August 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tesco Corp. has an average rating of “Buy” and an average price target of $8.56.
Tesco Corp. (NASDAQ:TESO) opened at 7.71 on Monday. The stock’s market cap is $357.77 million. The stock has a 50 day moving average price of $7.22 and a 200 day moving average price of $7.54. Tesco Corp. has a 12-month low of $5.13 and a 12-month high of $9.77.
Tesco Corp. (NASDAQ:TESO) last issued its earnings results on Tuesday, August 9th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.03. The company earned $33.60 million during the quarter, compared to the consensus estimate of $32.48 million. Tesco Corp. had a negative net margin of 95.07% and a negative return on equity of 15.93%. Tesco Corp.’s quarterly revenue was down 54.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. On average, analysts forecast that Tesco Corp. will post ($1.53) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC increased its position 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 during the period. Citadel Advisors LLC acquired a new position in shares of Tesco Corp. during the second quarter worth approximately $109,000. Goldman Sachs Group Inc. increased its position in shares of 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 last quarter. Louisiana State Employees Retirement System increased its position in shares of 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 last quarter. Finally, Arizona State Retirement System increased its position in shares of 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 last quarter. 94.87% of the stock is owned by institutional investors and hedge funds.
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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