Tesco Corporation (NASDAQ:TESO) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $6.00.
Several research firms recently weighed in on TESO. FBR & Co set a $7.00 price objective on shares of Tesco Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Seaport Global Securities reissued a “neutral” rating on shares of Tesco Corporation in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Tesco Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. ValuEngine lowered shares of Tesco Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Cowen and Company set a $5.00 price objective on shares of Tesco Corporation and gave the stock a “hold” rating in a research note on Friday, October 6th.
In other Tesco Corporation news, CEO Fernando Rafael Assing sold 9,293 shares of Tesco Corporation stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total value of $35,313.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 16,640 shares of company stock worth $63,232. Insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC bought a new position in Tesco Corporation in the first quarter valued at approximately $108,000. OppenheimerFunds Inc. lifted its stake in Tesco Corporation by 21.5% in the first quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 2,404 shares in the last quarter. KCG Holdings Inc. bought a new position in Tesco Corporation in the first quarter valued at approximately $116,000. Paloma Partners Management Co bought a new position in Tesco Corporation in the first quarter valued at approximately $154,000. Finally, Virginia Retirement Systems ET AL bought a new position in Tesco Corporation in the second quarter valued at approximately $105,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.
Tesco Corporation (NASDAQ TESO) traded up $0.20 during trading on Wednesday, reaching $4.20. 1,002,336 shares of the company traded hands, compared to its average volume of 349,214. Tesco Corporation has a twelve month low of $3.60 and a twelve month high of $9.65.
Tesco Corporation (NASDAQ:TESO) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Tesco Corporation had a negative return on equity of 18.21% and a negative net margin of 47.72%. The firm had revenue of $40.10 million for the quarter, compared to the consensus estimate of $41.01 million. During the same period in the previous year, the business earned ($0.39) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. analysts forecast that Tesco Corporation will post -0.94 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Tesco Corporation (TESO) Receives Average Rating of “Hold” from Brokerages” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/06/tesco-corporation-teso-receives-average-rating-of-hold-from-brokerages.html.
Tesco Corporation Company Profile
Tesco Corporation is a provider of technology-based solutions for drilling, servicing and completion of wells for the upstream energy industry. The Company’s operations consist of top drives and automated pipe handling equipment sales and rentals; aftermarket sales and services, and tubular services, including related products and accessories sales.
Receive News & Ratings for Tesco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.