TheStreet cut shares of TESSCO Technologies (NASDAQ:TESS) from a b- rating to a c rating in a report published on Tuesday, TheStreetRatingsTable reports.

Several other brokerages also recently weighed in on TESS. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, May 11th. ValuEngine downgraded shares of Vereit from a buy rating to a hold rating in a report on Friday, July 19th.

Shares of NASDAQ:TESS opened at $14.27 on Tuesday. TESSCO Technologies has a twelve month low of $10.20 and a twelve month high of $20.00. The stock has a 50 day simple moving average of $18.11. The firm has a market cap of $135.36 million, a P/E ratio of 21.95 and a beta of 1.30.

TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.21). TESSCO Technologies had a return on equity of 2.19% and a net margin of 0.32%. The business had revenue of $130.73 million during the quarter, compared to analyst estimates of $152.00 million. On average, sell-side analysts anticipate that TESSCO Technologies will post 0.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.80 annualized dividend and a yield of 5.61%. TESSCO Technologies’s dividend payout ratio (DPR) is presently 123.08%.

Several hedge funds and other institutional investors have recently modified their holdings of TESS. BlackRock Inc. raised its position in shares of TESSCO Technologies by 5.1% in the 4th quarter. BlackRock Inc. now owns 205,597 shares of the communications equipment provider’s stock valued at $2,467,000 after purchasing an additional 9,891 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of TESSCO Technologies by 26.7% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TESSCO Technologies by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 615,648 shares of the communications equipment provider’s stock valued at $7,388,000 after purchasing an additional 2,576 shares during the last quarter. Stifel Financial Corp raised its position in shares of TESSCO Technologies by 13.6% in the 4th quarter. Stifel Financial Corp now owns 45,939 shares of the communications equipment provider’s stock valued at $556,000 after purchasing an additional 5,485 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of TESSCO Technologies by 1.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 880,552 shares of the communications equipment provider’s stock valued at $10,567,000 after purchasing an additional 16,026 shares during the last quarter. 58.69% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: Dividend Achievers

Receive News & Ratings for TESSCO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TESSCO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.