Tesco Corporation (TESO) Receives Average Rating of “Hold” from Brokerages

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.

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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.

Analyst Recommendations for Tesco Corporation (NASDAQ:TESO)

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