TESSCO Technologies, Inc. (NASDAQ:TESS) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also given TESSCO Technologies an industry rank of 173 out of 256 based on the ratings given to its competitors.
Several brokerages have commented on TESS. ValuEngine upgraded shares of TESSCO Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Zacks Investment Research downgraded shares of TESSCO Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 11th.
Several hedge funds and other institutional investors have recently made changes to their positions in TESS. Moors & Cabot Inc. increased its stake in shares of TESSCO Technologies by 100.1% during the first quarter. Moors & Cabot Inc. now owns 154,626 shares of the communications equipment provider’s stock valued at $2,382,000 after purchasing an additional 77,337 shares in the last quarter. 22NW LP increased its stake in shares of TESSCO Technologies by 14.1% during the fourth quarter. 22NW LP now owns 314,639 shares of the communications equipment provider’s stock valued at $3,776,000 after purchasing an additional 38,770 shares in the last quarter. Tieton Capital Management LLC increased its stake in shares of TESSCO Technologies by 10.4% during the first quarter. Tieton Capital Management LLC now owns 330,429 shares of the communications equipment provider’s stock valued at $5,115,000 after purchasing an additional 31,250 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of TESSCO Technologies by 32.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 82,740 shares of the communications equipment provider’s stock valued at $993,000 after purchasing an additional 20,161 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of TESSCO Technologies by 26.7% during the fourth quarter. Bank of New York Mellon Corp now owns 83,141 shares of the communications equipment provider’s stock valued at $998,000 after purchasing an additional 17,542 shares in the last quarter. 59.04% of the stock is owned by institutional investors and hedge funds.
TESS traded up $0.21 on Wednesday, hitting $17.78. The company had a trading volume of 26,600 shares, compared to its average volume of 35,278. TESSCO Technologies has a 52-week low of $10.20 and a 52-week high of $20.00. The firm has a market capitalization of $143.45 million, a PE ratio of 27.35 and a beta of 1.36.
TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings data on Monday, May 6th. The communications equipment provider reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.10). TESSCO Technologies had a return on equity of 5.11% and a net margin of 0.91%. The company had revenue of $144.96 million during the quarter, compared to analysts’ expectations of $147.88 million. Analysts anticipate that TESSCO Technologies will post 0.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Tuesday, May 21st. TESSCO Technologies’s dividend payout ratio is 123.08%.
TESSCO Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.
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