Tesco Corporation (NASDAQ:TESO) shares saw an uptick in trading volume on Tuesday . 3,738,154 shares traded hands during mid-day trading, an increase of 517% from the previous session’s volume of 605,721 shares.The stock last traded at $4.60 and had previously closed at $4.50.
Several research firms have weighed in on TESO. Zacks Investment Research raised Tesco Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. ValuEngine lowered Tesco Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. FBR & Co set a $7.00 target price on Tesco Corporation and gave the company a “buy” rating in a report on Wednesday, August 16th. Seaport Global Securities reissued a “neutral” rating on shares of Tesco Corporation in a report on Wednesday, August 9th. Finally, Cowen and Company lowered their target price on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating on the stock in a report on Monday, June 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Tesco Corporation currently has an average rating of “Hold” and an average target price of $6.50.
The company’s market cap is $215.07 million. The company’s 50 day moving average price is $4.38 and its 200-day moving average price is $5.60.
Tesco Corporation (NASDAQ:TESO) last announced its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $40.10 million for the quarter, compared to analyst estimates of $41.01 million. Tesco Corporation had a negative return on equity of 18.21% and a negative net margin of 47.72%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the firm earned ($0.39) earnings per share. On average, equities research analysts expect that Tesco Corporation will post ($0.94) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank grew its stake in Tesco Corporation by 6.7% in the first quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 4,800 shares in the last quarter. OppenheimerFunds Inc. grew 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 purchasing an additional 2,404 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in Tesco Corporation by 24.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 337,641 shares of the oil and gas company’s stock valued at $1,503,000 after purchasing an additional 66,470 shares in the last quarter. Prudential Financial Inc. grew its stake in Tesco Corporation by 0.4% in the first quarter. Prudential Financial Inc. now owns 78,492 shares of the oil and gas company’s stock valued at $632,000 after purchasing an additional 330 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Tesco Corporation in the first quarter valued at about $154,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
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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.
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