Tesco Corporation (NASDAQ:TESO) had its target price lowered by Seaport Global Securities from $9.00 to $6.00 in a research note released on Wednesday, May 10th. The brokerage currently has a neutral rating on the oil and gas company’s stock.
Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Tesco Corporation from a hold rating to a buy rating and set a $9.50 price objective on the stock in a research report on Tuesday, February 28th. FBR & Co reissued a buy rating and issued a $9.00 price target on shares of Tesco Corporation in a research report on Sunday, March 12th. Finally, Cowen and Company lowered shares of Tesco Corporation from an outperform rating to a market perform rating and lowered their price target for the company from $10.00 to $9.00 in a research report on Thursday, January 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $7.00.
Tesco Corporation (TESO) traded down 7.78% on Wednesday, reaching $4.15. 477,356 shares of the company’s stock traded hands. Tesco Corporation has a 52-week low of $4.10 and a 52-week high of $9.65. The company’s 50 day moving average is $5.25 and its 200-day moving average is $7.48. The stock’s market cap is $193.89 million.
Tesco Corporation (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, May 9th. The oil and gas company reported ($0.29) EPS for the quarter, hitting the consensus estimate of ($0.29). The business had revenue of $36.70 million for the quarter, compared to analyst estimates of $35.65 million. Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. Equities analysts expect that Tesco Corporation will post ($0.91) EPS for the current year.
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Institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Tesco Corporation by 10.8% in the fourth quarter. FMR LLC now owns 6,904,121 shares of the oil and gas company’s stock valued at $56,959,000 after buying an additional 672,978 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tesco Corporation by 1.8% in the first quarter. Vanguard Group Inc. now owns 4,143,095 shares of the oil and gas company’s stock valued at $33,352,000 after buying an additional 72,918 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Tesco Corporation by 14.3% in the third quarter. BlackRock Fund Advisors now owns 3,579,459 shares of the oil and gas company’s stock valued at $29,208,000 after buying an additional 448,744 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tesco Corporation by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,729,879 shares of the oil and gas company’s stock valued at $21,975,000 after buying an additional 105,965 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Tesco Corporation by 17.8% in the fourth quarter. State Street Corp now owns 922,035 shares of the oil and gas company’s stock valued at $7,607,000 after buying an additional 139,320 shares in the last quarter. 95.27% of the stock is owned by institutional investors.
About Tesco Corporation
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.
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