Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Zacks has also given TESSCO Technologies an industry rank of 9 out of 255 based on the ratings given to its competitors.
TESS has been the topic of a number of research analyst reports. ValuEngine cut TESSCO Technologies from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. TheStreet upgraded TESSCO Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 1st. William Blair restated a “buy” rating on shares of TESSCO Technologies in a research note on Tuesday, November 20th. Finally, Zacks Investment Research upgraded TESSCO Technologies from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Saturday, January 26th.
TESS opened at $15.54 on Friday. TESSCO Technologies has a 1-year low of $10.20 and a 1-year high of $23.85. The firm has a market capitalization of $131.52 million, a P/E ratio of 28.25 and a beta of 1.33.
TESSCO Technologies (NASDAQ:TESS) last posted its quarterly earnings results on Thursday, January 24th. The communications equipment provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.13. TESSCO Technologies had a return on equity of 5.24% and a net margin of 0.93%. The business had revenue of $152.30 million for the quarter, compared to analysts’ expectations of $161.20 million. On average, equities analysts expect that TESSCO Technologies will post 0.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 27th. Investors of record on Wednesday, February 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Tuesday, February 12th. TESSCO Technologies’s dividend payout ratio (DPR) is presently 145.45%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. acquired a new position in TESSCO Technologies in the 4th quarter valued at $68,000. Stifel Financial Corp grew its holdings in shares of TESSCO Technologies by 13.6% during the 4th quarter. Stifel Financial Corp now owns 45,939 shares of the communications equipment provider’s stock worth $556,000 after purchasing an additional 5,485 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of TESSCO Technologies by 32.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 82,740 shares of the communications equipment provider’s stock worth $993,000 after purchasing an additional 20,161 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TESSCO Technologies by 26.7% during the 4th quarter. Bank of New York Mellon Corp now owns 83,141 shares of the communications equipment provider’s stock worth $998,000 after purchasing an additional 17,542 shares in the last quarter. Finally, Putnam Investments LLC grew its holdings in shares of TESSCO Technologies by 26.9% during the 3rd quarter. Putnam Investments LLC now owns 126,910 shares of the communications equipment provider’s stock worth $1,935,000 after purchasing an additional 26,910 shares in the last quarter. Institutional investors and hedge funds own 59.46% of the company’s stock.
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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