Analysts Review On Tesco Corporation (USA) (NASDAQ:TESO)

The shares of Tesco Corporation (USA) (NASDAQ:TESO) currently has mean rating of 2.2 while 3 analyst have recommended the shares as ‘BUY’ ,2 recommended as ‘OUTPERFORM’ and 4 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell

The mean price target for the shares of Tesco Corporation (USA) (NASDAQ:TESO) is at $9.50 while the highest price target suggested by the analysts is $14.00 and low price target is $7.00. The mean price target is calculated keeping in view the consensus of 8 brokerage firms.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 32.55M by 8 analysts. The means estimate of sales for the year ending Dec 16 is 131.50M by 8 analysts.

The average estimate of EPS for the current fiscal quarter for Tesco Corporation (USA) (NASDAQ:TESO) stands at $-0.43 while the EPS for the current year is fixed at $-1.66 by 9.00 analysts

The next one year’s EPS estimate is set at -1.08 by 9.00 analysts while a year ago the analysts suggested the company’s EPS at $-1.66. The analysts also projected the company’s long-term growth at 8.00% for the upcoming five years

In its latest quarter ended on 31 Mar 2016 , Tesco Corporation (USA) (NASDAQ:TESO) reported earnings of $-0.46. The posted earnings missed the analyst’s consensus by $-0.11 with the surprise factor of -31.40%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Tesco Corporation (USA) (NASDAQ:TESO) traded down -10.89% during trading on Friday, hitting $7.48 . The stock had a trading volume of 4.7 M shares. The firm has a 50 day moving average of $8.00 and a 200-day moving average of $7.54. The stock has a market cap of $276.47M. On Jun 12, 2015 the shares registered one year high at $12.07 and the one year low was seen on Jan 20, 2016.

On June 8, 2016 Tesco Corporation (USA) (NASDAQ:TESO) announced that it has priced its underwritten public offering of 7,000,000 common shares of the Company at a price to the public of $7.00 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 1,050,000 common shares at the offering price (less the underwriting discounts).  The Company expects to close the sale of the common shares on June 14, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds of the offering for general corporate purposes, which could include working capital, capital expenditures, acquisitions or other initiatives.

BofA Merrill Lynch is acting as the sole book-running manager for the offering.

The Company has filed a registration statement including a prospectus and a prospectus supplement with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request from BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC  28255-0001, email dg.prospectus_requests@baml.com.