Somewhat Favorable News Coverage Somewhat Unlikely to Affect Tesco (TESO) Share Price

News coverage about Tesco (NASDAQ:TESO) has trended somewhat positive on Monday, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Tesco earned a media sentiment score of 0.24 on Accern’s scale. Accern also gave news stories about the oil and gas company an impact score of 45.7029135679947 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

Here are some of the headlines that may have effected Accern’s analysis:

TESO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Tesco from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Cowen set a $5.00 target price on shares of Tesco and gave the stock a “hold” rating in a research note on Friday, October 6th. ValuEngine lowered shares of Tesco from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco in a research note on Wednesday, August 9th. Finally, B. Riley reaffirmed a “buy” rating on shares of Tesco in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.00.

Shares of Tesco (NASDAQ TESO) traded up $0.25 during midday trading on Monday, reaching $4.30. 499,100 shares of the company were exchanged, compared to its average volume of 419,828. Tesco has a 12-month low of $3.60 and a 12-month high of $9.65.

Tesco (NASDAQ:TESO) last announced its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.01. The firm had revenue of $40.50 million during the quarter, compared to analyst estimates of $43.24 million. Tesco had a negative net margin of 38.60% and a negative return on equity of 16.27%. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.37) EPS. analysts predict that Tesco will post -0.92 earnings per share for the current year.

In other Tesco news, CEO Fernando Rafael Assing sold 9,293 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total transaction of $35,313.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 21,695 shares of company stock valued at $82,720. Company insiders own 1.70% of the company’s stock.

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About Tesco

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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