Tesco Corp. (TESO) Stock Price Up 6%
Shares of Tesco Corp. (NASDAQ:TESO) rose 6% during trading on Tuesday . The company traded as high as $7.25 and last traded at $7.21, with a volume of 143,286 shares. The stock had previously closed at $6.80.
Separately, Zacks Investment Research lowered Tesco Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.75.
The firm’s market capitalization is $281.58 million. The stock’s 50-day moving average is $6.86 and its 200-day moving average is $7.37.
Tesco Corp. (NASDAQ:TESO) last posted its earnings results on Tuesday, May 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.11. The company earned $35.50 million during the quarter, compared to the consensus estimate of $42.86 million. Tesco Corp.’s revenue was down 61.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, equities research analysts anticipate that Tesco Corp. will post ($1.61) EPS for the current year.
An institutional investor recently raised its position in Tesco Corp. stock. Dimensional Fund Advisors LP increased its stake in Tesco Corp. (NASDAQ:TESO) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,300,177 shares of the company’s stock after buying an additional 25,710 shares during the period. Dimensional Fund Advisors LP owned 5.90% of Tesco Corp. worth $16,653,000 as of its most recent SEC filing.
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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