Brokers Issue Forecasts for Tesco Corporation’s Q3 2017 Earnings (TESO)
Tesco Corporation (NASDAQ:TESO) – Investment analysts at Seaport Global Securities issued their Q3 2017 earnings estimates for shares of Tesco Corporation in a research report issued on Wednesday. Seaport Global Securities analyst M. Urban anticipates that the oil and gas company will post earnings of ($0.20) per share for the quarter. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Tesco Corporation’s Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($0.91) EPS, Q1 2018 earnings at ($0.16) EPS, Q2 2018 earnings at ($0.16) EPS, Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.60) EPS, Q1 2019 earnings at ($0.13) EPS, Q2 2019 earnings at ($0.10) EPS and FY2019 earnings at ($0.35) EPS.
Tesco Corporation (NASDAQ:TESO) last posted its earnings results 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 company had revenue of $40.10 million during the quarter, compared to the consensus estimate 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 was up 19.3% compared to the same quarter last year. During the same period last year, the company posted ($0.39) EPS.
A number of other analysts also recently issued reports on TESO. Zacks Investment Research downgraded Tesco Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. Cowen and Company dropped their price target on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.00.
Tesco Corporation (NASDAQ:TESO) opened at 4.05 on Friday. The stock has a 50 day moving average of $4.35 and a 200-day moving average of $6.28. The company’s market cap is $189.14 million. Tesco Corporation has a 12-month low of $3.70 and a 12-month high of $9.65.
Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Tesco Corporation during the first quarter worth about $108,000. OppenheimerFunds Inc. increased its stake in shares of Tesco Corporation by 21.5% in the first quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock worth $109,000 after buying an additional 2,404 shares during the period. KCG Holdings Inc. acquired a new stake in shares of Tesco Corporation during the first quarter worth about $116,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tesco Corporation during the first quarter worth about $144,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Tesco Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the oil and gas company’s stock worth $153,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 95.66% 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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