Tesco (TESO) Receives “Hold” Rating from B. Riley

B. Riley reissued their hold rating on shares of Tesco (NASDAQ:TESO) in a research report released on Friday.

A number of other equities analysts also recently commented on the company. Goldman Sachs Group upgraded Tesco from a neutral rating to a buy rating in a research note on Monday, December 4th. Zacks Investment Research upgraded Tesco from a sell rating to a hold rating in a research note on Thursday, November 30th. Cowen set a $5.00 price target on Tesco and gave the stock a hold rating in a research note on Friday, October 6th. Finally, ValuEngine downgraded Tesco from a sell rating to a strong sell rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Tesco presently has a consensus rating of Hold and a consensus target price of $6.00.

Shares of Tesco (TESO) traded down $0.25 during midday trading on Friday, hitting $3.70. The stock had a trading volume of 15,653,700 shares, compared to its average volume of 484,356. Tesco has a twelve month low of $3.60 and a twelve month high of $9.65. The stock has a market capitalization of $173.00, a price-to-earnings ratio of -2.94 and a beta of 1.17.

Tesco (NASDAQ:TESO) last announced its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.01. Tesco had a negative return on equity of 16.27% and a negative net margin of 38.60%. The business had revenue of $40.50 million for the quarter, compared to analyst estimates of $43.24 million. During the same period in the previous year, the company earned ($0.37) earnings per share. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. equities research analysts predict that Tesco will post -0.94 earnings per share for the current fiscal year.

In other Tesco news, CEO Fernando Rafael Assing sold 9,293 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $3.80, for a total value of $35,313.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 40,633 shares of company stock worth $161,340. 1.70% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of TESO. FMR LLC boosted its holdings in Tesco by 9.8% in the second quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock worth $31,187,000 after purchasing an additional 624,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tesco by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,054,392 shares of the oil and gas company’s stock worth $16,647,000 after purchasing an additional 61,353 shares in the last quarter. State Street Corp boosted its holdings in Tesco by 3.6% in the second quarter. State Street Corp now owns 1,061,705 shares of the oil and gas company’s stock worth $4,723,000 after purchasing an additional 37,244 shares in the last quarter. Royce & Associates LP boosted its holdings in Tesco by 32.5% in the second quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock worth $3,904,000 after purchasing an additional 215,400 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Tesco by 22.9% in the second quarter. Northern Trust Corp now owns 643,487 shares of the oil and gas company’s stock worth $2,863,000 after purchasing an additional 119,830 shares in the last quarter. Institutional investors and hedge funds own 87.10% 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.

Analyst Recommendations for Tesco (NASDAQ:TESO)

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