$43.67 Million in Sales Expected for Tesco Corporation (TESO) This Quarter
Wall Street brokerages predict that Tesco Corporation (NASDAQ:TESO) will announce sales of $43.67 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tesco Corporation’s earnings, with estimates ranging from $43.00 million to $44.70 million. Tesco Corporation posted sales of $30.40 million in the same quarter last year, which indicates a positive year over year growth rate of 43.7%. The business is scheduled to report its next quarterly earnings results on Friday, November 3rd.
On average, analysts expect that Tesco Corporation will report full-year sales of $43.67 million for the current financial year, with estimates ranging from $163.40 million to $169.00 million. For the next fiscal year, analysts expect that the company will report sales of $205.87 million per share, with estimates ranging from $184.80 million to $232.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Tesco Corporation.
Tesco Corporation (NASDAQ:TESO) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $40.10 million for the quarter, compared to analysts’ expectations of $41.01 million. Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) EPS.
A number of analysts have commented on the company. Cowen and Company set a $5.00 price target on Tesco Corporation and gave the stock a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research raised Tesco Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine cut Tesco Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. FBR & Co set a $7.00 price target on Tesco Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corporation in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.00.
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Tesco Corporation (NASDAQ:TESO) traded up 2.06% during mid-day trading on Tuesday, reaching $4.95. The company had a trading volume of 202,595 shares. The stock’s 50-day moving average price is $4.98 and its 200 day moving average price is $5.14. The firm’s market capitalization is $231.43 million. Tesco Corporation has a 52 week low of $3.70 and a 52 week high of $9.65.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TESO. Great West Life Assurance Co. Can raised its stake in shares of Tesco Corporation by 7.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 61,673 shares of the oil and gas company’s stock valued at $493,000 after buying an additional 4,420 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Tesco Corporation by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 600,779 shares of the oil and gas company’s stock valued at $4,837,000 after buying an additional 15,259 shares during the last quarter. Comerica Bank raised its stake in shares of Tesco Corporation by 4.8% during the 1st quarter. Comerica Bank now owns 51,436 shares of the oil and gas company’s stock valued at $347,000 after buying an additional 2,357 shares during the last quarter. Swiss National Bank raised its stake in shares of Tesco Corporation by 6.7% during the 1st quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 4,800 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Tesco Corporation during the 1st quarter valued at about $266,000. Institutional investors and hedge funds own 91.12% of the company’s stock.
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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