TESSCO Technologies Incorporated (NASDAQ:TESS) – Investment analysts at William Blair upped their FY2018 earnings per share (EPS) estimates for shares of TESSCO Technologies in a note issued to investors on Tuesday. William Blair analyst A. Doradla now expects that the communications equipment provider will earn $0.48 per share for the year, up from their prior estimate of $0.36.
TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Monday, October 23rd. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.11. The company had revenue of $145.08 million for the quarter, compared to analyst estimates of $141.97 million. TESSCO Technologies had a return on equity of 3.09% and a net margin of 0.51%.
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Separately, Zacks Investment Research cut shares of TESSCO Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 13th.
Shares of TESSCO Technologies (TESS) traded down 6.45% during mid-day trading on Thursday, hitting $15.95. The stock had a trading volume of 31,358 shares. TESSCO Technologies has a 1-year low of $9.75 and a 1-year high of $17.25. The firm’s 50 day moving average price is $13.06 and its 200 day moving average price is $13.63. The company has a market cap of $133.50 million, a P/E ratio of 66.46 and a beta of 1.20.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 7th. This represents a $0.80 annualized dividend and a dividend yield of 5.02%. TESSCO Technologies’s dividend payout ratio is currently 235.29%.
Institutional investors have recently bought and sold shares of the business. Algert Global LLC lifted its position in shares of TESSCO Technologies by 30.4% during the 2nd quarter. Algert Global LLC now owns 20,660 shares of the communications equipment provider’s stock worth $275,000 after buying an additional 4,813 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of TESSCO Technologies by 8.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 22,935 shares of the communications equipment provider’s stock worth $305,000 after buying an additional 1,744 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of TESSCO Technologies by 4.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 26,517 shares of the communications equipment provider’s stock worth $353,000 after buying an additional 1,031 shares in the last quarter. Stifel Financial Corp lifted its position in shares of TESSCO Technologies by 3.6% during the 1st quarter. Stifel Financial Corp now owns 25,682 shares of the communications equipment provider’s stock worth $398,000 after buying an additional 900 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of TESSCO Technologies by 11.0% during the 1st quarter. Wells Fargo & Company MN now owns 47,587 shares of the communications equipment provider’s stock worth $747,000 after buying an additional 4,700 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.
About TESSCO Technologies
TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.
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