Tesco Corp. (TESO) Shares Down 4.8%
Tesco Corp. (NASDAQ:TESO) shares fell 4.8% on Wednesday . The stock traded as low as $6.80 and last traded at $6.81, with a volume of 619,198 shares. The stock had previously closed at $7.15.
Several brokerages have 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 report on Wednesday, August 10th. Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corp. in a report on Friday, August 19th. Finally, Zacks Investment Research lowered shares of Tesco Corp. from a “buy” rating to a “hold” rating in a report on Saturday, August 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $8.56.
The firm’s market capitalization is $316.00 million. The stock has a 50 day moving average price of $6.97 and a 200-day moving average price of $7.52.
Tesco Corp. (NASDAQ:TESO) last released its earnings results on Tuesday, August 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. The firm had revenue of $33.60 million for the quarter, compared to analyst estimates of $32.48 million. During the same period in the previous year, the firm earned ($0.21) earnings per share. Tesco Corp.’s revenue was down 54.9% on a year-over-year basis. On average, analysts expect that Tesco Corp. will post ($1.53) earnings per share for the current year.
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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