TESSCO Technologies, Inc. (NASDAQ:TESS) – Equities research analysts at William Blair lifted their Q2 2019 earnings per share (EPS) estimates for shares of TESSCO Technologies in a research note issued to investors on Wednesday. William Blair analyst A. Doradla now expects that the communications equipment provider will earn $0.26 per share for the quarter, up from their previous forecast of $0.13. William Blair also issued estimates for TESSCO Technologies’ Q3 2019 earnings at $0.23 EPS and FY2019 earnings at $0.76 EPS.
TESS has been the subject of a number of other reports. Zacks Investment Research cut TESSCO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. TheStreet upgraded TESSCO Technologies from a “c+” rating to a “b-” rating in a research note on Monday, December 11th.
TESSCO Technologies (NASDAQ TESS) remained flat at $$22.35 during trading on Monday. 12,284 shares of the stock were exchanged, compared to its average volume of 46,971. TESSCO Technologies has a fifty-two week low of $12.15 and a fifty-two week high of $23.65. The company has a market capitalization of $182.64, a PE ratio of 57.37 and a beta of 1.31.
TESSCO Technologies (NASDAQ:TESS) last released its quarterly earnings results on Tuesday, January 23rd. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. TESSCO Technologies had a return on equity of 3.43% and a net margin of 0.57%. The company had revenue of $146.26 million during the quarter, compared to analysts’ expectations of $144.00 million.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, February 13th. TESSCO Technologies’s payout ratio is 210.53%.
Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC raised its stake in shares of TESSCO Technologies by 25.1% in the fourth quarter. Acadian Asset Management LLC now owns 16,149 shares of the communications equipment provider’s stock worth $325,000 after purchasing an additional 3,243 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of TESSCO Technologies by 8.2% in the second quarter. Goldman Sachs Group Inc. now owns 22,935 shares of the communications equipment provider’s stock worth $305,000 after purchasing an additional 1,744 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of TESSCO Technologies in the third quarter worth about $395,000. Stifel Financial Corp raised its stake in shares of TESSCO Technologies by 26.5% in the second quarter. Stifel Financial Corp now owns 32,500 shares of the communications equipment provider’s stock worth $434,000 after purchasing an additional 6,818 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of TESSCO Technologies by 1.8% in the second quarter. Northern Trust Corp now owns 71,148 shares of the communications equipment provider’s stock worth $945,000 after purchasing an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 58.28% of the company’s stock.
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TESSCO Technologies Company Profile
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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