TESCO CORPORATION: SALES & DOWN
TR. Tesco Corp. (NASDAQ:TESO) COO Fernando Rafael Assing sold 29,591 shares of the company's stock on the open market in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $17.93, for a total value of $530,566.63. Following the sale, the chief operating officer now directly owns 51,800 shares of the company's stock, valued at approximately $928,774. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Tesco Corp. (NASDAQ:TESO) traded up 3.93% on Tuesday, hitting $18.52. The stock had a trading volume of 226,081 shares. Tesco Corp. has a 1-year low of $11.05 and a 1-year high of $21.55. The stock has a 50-day moving average of $18.71 and a 200-day moving average of $18.62. The company has a market cap of $735.1 million and a P/E ratio of 19.58.
Tesco Corp. (NASDAQ:TESO) last announced its earnings results on Friday, February 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.16. On average, analysts predict that Tesco Corp. will post $1.23 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on TESO shares. Analysts at Capital One Financial Corp. upgraded shares of Tesco Corp. from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 14th. Separately, analysts at FBR Capital Markets raised their price target on shares of Tesco Corp. from $22.00 to $27.00 in a research note on Tuesday, February 25th. They now have an "outperform" rating on the stock. Finally, analysts at Zacks downgraded shares of Tesco Corp. from an "outperform" rating to a "neutral" rating in a research note on Wednesday, January 8th. They now have a $21.30 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. Tesco Corp. presently has an average rating of "Hold" and an average price target of $238.57.
Tesco Corporation (NASDAQ:TESO) is engaged in designing, manufacturing, and service delivery of technology based solutions for the upstream energy industry.
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IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.