Tesco Corp. (NASDAQ:TESO)‘s stock had its “hold” rating reissued by equities researchers at HSBC in a research note issued on Monday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Tesco Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corp. in a research report on Friday, August 19th. Barclays PLC reaffirmed a “buy” rating on shares of Tesco Corp. in a research report on Monday, September 26th. Finally, FBR & Co set a $9.00 price objective on Tesco Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $8.56.
Tesco Corp. (NASDAQ:TESO) opened at 8.55 on Monday. Tesco Corp. has a 12 month low of $5.13 and a 12 month high of $9.77. The company’s 50-day moving average price is $7.50 and its 200 day moving average price is $7.49. The stock’s market capitalization is $396.75 million.
Tesco Corp. (NASDAQ:TESO) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. The business earned $33.60 million during the quarter, compared to analysts’ expectations of $32.48 million. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The business’s quarterly revenue was down 54.9% compared to the same quarter last year. During the same period 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 have recently made changes to their positions in the stock. American International Group Inc. boosted its stake in shares of Tesco Corp. by 3.0% in the second quarter. American International Group Inc. now owns 30,323 shares of the company’s stock worth $203,000 after buying an additional 881 shares during the period. Barclays PLC boosted its stake in shares of Tesco Corp. by 2.8% in the first quarter. Barclays PLC now owns 34,462 shares of the company’s stock worth $276,000 after buying an additional 947 shares during the period. Profund Advisors LLC boosted its stake in shares of 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. Louisiana State Employees Retirement System boosted its stake 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 period. Finally, Teachers Advisors Inc. boosted its stake in shares of Tesco Corp. by 0.6% in the second quarter. Teachers Advisors Inc. now owns 561,985 shares of the company’s stock worth $3,760,000 after buying an additional 3,363 shares during the period. 94.87% of the stock is owned by hedge funds and other institutional investors.
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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