Insider Selling: Julio M. Quintana Sells 4,562 Shares of Tesco Corp. Stock (TESO)
Tesco Corp. (NASDAQ:TESO) CEO Julio M. Quintana sold 4,562 shares of the stock on the open market in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $21.05, for a total transaction of $96,030.10. Following the completion of the sale, the chief executive officer now directly owns 223,172 shares of the company’s stock, valued at approximately $4,697,771. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Tesco Corp. (NASDAQ:TESO) traded up 0.90% on Wednesday, hitting $21.29. The stock had a trading volume of 159,909 shares. Tesco Corp. has a 1-year low of $12.26 and a 1-year high of $21.77. The stock’s 50-day moving average is $19.91 and its 200-day moving average is $19.31. The company has a market cap of $853.8 million and a P/E ratio of 27.84.
Tesco Corp. (NASDAQ:TESO) last announced its earnings results on Monday, May 5th. The company reported $0.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.04. The company had revenue of $121.40 million for the quarter, compared to the consensus estimate of $137.52 million. During the same quarter last year, the company posted $0.22 earnings per share. Tesco Corp.’s revenue was down 4.5% compared to the same quarter last year. On average, analysts predict that Tesco Corp. will post $1.20 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Monday, June 2nd. Investors of record on Thursday, May 22nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th.
TESO has been the subject of a number of recent research reports. Analysts at Cowen and Company raised their price target on shares of Tesco Corp. from $20.00 to $24.00 in a research note on Tuesday, May 13th. Separately, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of Tesco Corp. in a research note on Tuesday, May 6th. They now have a $28.00 price target on the stock, up previously from $27.00. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $239.03.
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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