Analysts Set Tesco Corp. (NASDAQ:TESO) PT at $9.00
Tesco Corp. (NASDAQ:TESO) has been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the stock. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.00.
TESO has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Tesco Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Barclays PLC reissued a “buy” rating on shares of Tesco Corp. in a report on Monday, September 26th. Seaport Global Securities reissued a “neutral” rating on shares of Tesco Corp. in a report on Friday, August 19th. Finally, 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.
Shares of Tesco Corp. (NASDAQ:TESO) opened at 8.36 on Monday. The stock’s 50 day moving average price is $7.37 and its 200 day moving average price is $7.49. The stock’s market cap is $387.93 million. Tesco Corp. has a 52 week low of $5.13 and a 52 week 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. Tesco Corp. had a negative net margin of 95.07% and a negative return on equity of 15.93%. The firm had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $32.48 million. During the same quarter last year, the company posted ($0.21) earnings per share. Tesco Corp.’s revenue was down 54.9% on a year-over-year basis. Equities research analysts anticipate that Tesco Corp. will post ($1.53) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Tesco Corp. by 35.4% in the second quarter. FMR LLC now owns 6,761,794 shares of the company’s stock worth $45,236,000 after buying an additional 1,769,481 shares during the period. Wellington Management Group LLP boosted its stake in Tesco Corp. by 0.5% in the first quarter. Wellington Management Group LLP now owns 5,490,036 shares of the company’s stock worth $47,270,000 after buying an additional 29,257 shares during the period. Vanguard Group Inc. boosted its stake in Tesco Corp. by 18.1% in the second quarter. Vanguard Group Inc. now owns 3,863,596 shares of the company’s stock worth $25,848,000 after buying an additional 592,205 shares during the period. BlackRock Fund Advisors boosted its stake in Tesco Corp. by 15.0% in the second quarter. BlackRock Fund Advisors now owns 3,130,715 shares of the company’s stock worth $20,944,000 after buying an additional 407,739 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Tesco Corp. by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,728,231 shares of the company’s stock worth $18,252,000 after buying an additional 185,057 shares during the period. 94.87% of the stock is currently owned by institutional investors.
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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