Today, Tesco Corp. (TESO) Upgraded at Zacks Investment Research

Today, Tesco Corp. (TESO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Tesco Corp. (NASDAQ:TESO) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $9.50 price target on the stock.

According to Zacks, “Tesco Corporation is engaged in the designing, manufacturing and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service include equipment sales and services to drilling contractors and oil and gas operating companies. It operates in three segments, Top Drive, Tubular Services, and CASING DRILLING. Tesco Corporation is headquartered in Houston, Texas. “

A number of other research firms also recently commented on TESO. HSBC reissued a hold rating on shares of Tesco Corp. in a report on Monday, October 10th. Barclays PLC restated a buy rating on shares of Tesco Corp. in a research report on Monday, September 26th. Seaport Global Securities restated a neutral rating on shares of Tesco Corp. in a research report on Friday, August 19th. Finally, FBR & Co set a $9.00 price target on Tesco Corp. and gave the company a buy rating in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Tesco Corp. currently has an average rating of Buy and a consensus target price of $8.83.

Tesco Corp. (NASDAQ:TESO) opened at 8.00 on Wednesday. The firm has a 50-day moving average of $7.58 and a 200-day moving average of $7.50. The firm’s market cap is $371.22 million. Tesco Corp. has a 52-week low of $5.13 and a 52-week high of $9.77.

Tesco Corp. (NASDAQ:TESO) last released its earnings results on Tuesday, August 9th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The company earned $33.60 million during the quarter, compared to the consensus estimate of $32.48 million. During the same quarter last year, the company earned ($0.21) earnings per share. Tesco Corp.’s quarterly revenue was down 54.9% compared to the same quarter last year. Equities analysts anticipate that Tesco Corp. will post ($1.53) EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Tesco Corp. by 19.4% in the second quarter. Ameriprise Financial Inc. now owns 225,800 shares of the company’s stock worth $1,510,000 after buying an additional 36,764 shares in the last quarter. Royce & Associates LP boosted its stake in Tesco Corp. by 12.3% in the second quarter. Royce & Associates LP now owns 911,296 shares of the company’s stock worth $6,097,000 after buying an additional 100,000 shares in the last quarter. Swiss National Bank boosted its stake in Tesco Corp. by 30.9% in the second quarter. Swiss National Bank now owns 71,600 shares of the company’s stock worth $479,000 after buying an additional 16,900 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Tesco Corp. by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 518,884 shares of the company’s stock worth $3,472,000 after buying an additional 30,380 shares in the last quarter. Finally, HL Financial Services LLC boosted its stake in Tesco Corp. by 17.9% in the second quarter. HL Financial Services LLC now owns 131,903 shares of the company’s stock worth $882,000 after buying an additional 20,010 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Tesco Corp. Company Profile

Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.

Related posts

Leave a Comment