TESSCO Technologies, Inc. (TESS) To Go Ex-Dividend on February 12th
TESSCO Technologies, Inc. (NASDAQ:TESS) declared a quarterly dividend on Friday, January 25th, Wall Street Journal reports. Shareholders of record on Wednesday, February 13th will be given a dividend of 0.20 per share by the communications equipment provider on Wednesday, February 27th. This represents a $0.80 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Tuesday, February 12th.
TESSCO Technologies has a dividend payout ratio of 142.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TESSCO Technologies to earn $0.77 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 103.9%.
Shares of NASDAQ:TESS opened at $14.90 on Thursday. TESSCO Technologies has a 1-year low of $10.20 and a 1-year high of $24.85. The firm has a market cap of $127.05 million, a PE ratio of 22.77 and a beta of 1.39.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded TESSCO Technologies from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet upgraded TESSCO Technologies from a “c+” rating to a “b” rating in a report on Friday, February 1st. Zacks Investment Research upgraded TESSCO Technologies from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Saturday, January 26th. Finally, William Blair restated a “buy” rating on shares of TESSCO Technologies in a report on Tuesday, November 20th.
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About TESSCO Technologies
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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