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TESO

Tesco

$4.40

-0.1 (-2.22%)

06:16
08/08/17
08/08
06:16
08/08/17
06:16

Tesco sees Q3 revenue up sequentially

The company said "While there is some market speculation that U.S. rig count could decline in the second half of 2017, we have not seen strong evidence yet of any significant activity decline by our customers. We have also seen signs of upcoming activity improvements in certain international markets, both in land and offshore. In the Q3 we expect overall revenue to increase sequentially primarily from growth in Tubular Services and new product sales. Cash levels are expected to remain approximately flat over the second quarter ending balance as EBITDA losses are expected to continue to decrease and working capital is reduced from the second quarter levels. As market uncertainty and pricing pressure increases in a lower-for-longer environment, it will be more important to continue to gain market share through technology deployments. As we look ahead to the Q3 and Q4, we see opportunities that have the potential to generate revenue and EBITDA improvements while keeping cash levels near current levels. The approximate $8.4M invested in working capital and capital expenditures in the first half of 2017 positions us to continue to grow revenue in the second half of 2017 and to get closer to our goal of reaching breakeven EBITDA."

TESO Tesco
$4.40

-0.1 (-2.22%)

12/22/16
BOFA
12/22/16
INITIATION
Target $6
BOFA
Underperform
Tesco initiated with an Underperform at BofA/Merrill
BofA/Merrill analyst J.B. Lowe initiated Tesco with an Underperform and a $6 price target saying he believes new equipment sales will lag in the early stages of a recovery given the large oversupply in both onshore and offshore rigs
01/19/17
COWN
01/19/17
DOWNGRADE
Target $10
COWN
Market Perform
Tesco downgraded to Market Perform from Outperform at Cowen
Cowen analyst Marc Bianchi downgraded Tesco to Market Perform citing valuation and raised its price target to $10 from $9.
04/10/17
04/10/17
NO CHANGE

FBR views Tesco as most likely takeover in Oilfield Services
FBR Capital analyst Thomas Curran says that within his Oilfield Services coverage, Tesco (TESO) has the highest probability of a straight acquisition. In GE Oil & Gas (GE) and Forum Energy (FET), Tesco has at least two potential strategic acquirers with "highly compelling logic," Curran tells investors in a research note. He believes a buyer could offer $10 per share. Tesco closed Friday at $7.30.

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SYNT

Syntel

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Kezar Life Sciences

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RYAAY

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