Tesco Co. (TESO) Receives Average Rating of “Hold” from Analysts
Shares of Tesco Co. (NASDAQ:TESO) have been assigned an average rating of “Hold” from the seven brokerages that are covering the firm. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $9.00.
Several brokerages have recently weighed in on TESO. FBR & Co reaffirmed a “buy” rating and issued a $9.00 target price on shares of Tesco in a report on Sunday, March 12th. Zacks Investment Research downgraded shares of Tesco from a “buy” rating to a “hold” rating in a report on Friday, March 10th. Cowen and Company downgraded shares of Tesco from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $10.00 to $9.00 in a report on Thursday, January 19th. Finally, Bank of America Corp began coverage on shares of Tesco in a report on Thursday, December 22nd. They issued an “underperform” rating on the stock.
In related news, CFO Christopher L. Boone sold 3,529 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $8.25, for a total value of $29,114.25. Following the completion of the sale, the chief financial officer now owns 23,044 shares in the company, valued at $190,113. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fernando Rafael Assing sold 4,224 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $9.03, for a total transaction of $38,142.72. Following the completion of the sale, the chief executive officer now owns 117,226 shares of the company’s stock, valued at approximately $1,058,550.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,581 shares of company stock worth $316,145. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Numeric Investors LLC boosted its stake in shares of Tesco by 36.9% in the fourth quarter. Numeric Investors LLC now owns 96,800 shares of the company’s stock valued at $799,000 after buying an additional 26,100 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Tesco by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 243,174 shares of the company’s stock valued at $2,006,000 after buying an additional 1,670 shares during the period. FMR LLC boosted its stake in shares of Tesco by 10.8% in the fourth quarter. FMR LLC now owns 6,904,121 shares of the company’s stock valued at $56,959,000 after buying an additional 672,978 shares during the period. Teza Capital Management LLC bought a new stake in shares of Tesco during the fourth quarter valued at approximately $270,000. Finally, State Street Corp boosted its stake in shares of Tesco by 17.8% in the fourth quarter. State Street Corp now owns 922,035 shares of the company’s stock valued at $7,607,000 after buying an additional 139,320 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.
Shares of Tesco (NASDAQ:TESO) opened at 8.00 on Thursday. The stock’s market cap is $373.74 million. The company’s 50-day moving average is $8.48 and its 200 day moving average is $8.08. Tesco has a 52 week low of $5.72 and a 52 week high of $9.77.
Tesco (NASDAQ:TESO) last issued its earnings results on Tuesday, February 28th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.07. The business had revenue of $35.30 million for the quarter, compared to the consensus estimate of $30.99 million. Tesco had a negative net margin of 115.95% and a negative return on equity of 18.80%. The business’s quarterly revenue was down 32.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. Analysts forecast that Tesco will post ($0.97) earnings per share for the current fiscal year.
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Tesco 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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