TESSCO Technologies (TESS) Upgraded at TheStreet
Separately, Zacks Investment Research raised shares of TESSCO Technologies from a hold rating to a strong-buy rating and set a $19.00 target price on the stock in a research note on Friday, October 27th.
Shares of TESSCO Technologies (NASDAQ:TESS) opened at $16.60 on Monday. The company has a market cap of $139.08, a price-to-earnings ratio of 45.38 and a beta of 1.31. TESSCO Technologies has a 1-year low of $11.88 and a 1-year high of $18.00.
TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Monday, October 23rd. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.10 by $0.11. The company had revenue of $145.08 million during the quarter, compared to analyst estimates of $141.97 million. TESSCO Technologies had a net margin of 0.51% and a return on equity of 3.09%. analysts anticipate that TESSCO Technologies will post 0.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 7th. This represents a $0.80 annualized dividend and a yield of 4.82%. TESSCO Technologies’s dividend payout ratio (DPR) is presently 235.29%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Moors & Cabot Inc. boosted its stake in TESSCO Technologies by 9.0% during the 3rd quarter. Moors & Cabot Inc. now owns 80,678 shares of the communications equipment provider’s stock worth $1,001,000 after purchasing an additional 6,646 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TESSCO Technologies by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 496,166 shares of the communications equipment provider’s stock worth $6,177,000 after purchasing an additional 18,502 shares during the last quarter. Tieton Capital Management LLC boosted its stake in TESSCO Technologies by 15.5% during the 3rd quarter. Tieton Capital Management LLC now owns 318,499 shares of the communications equipment provider’s stock worth $3,965,000 after purchasing an additional 42,644 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in TESSCO Technologies during the 3rd quarter worth $395,000. Finally, Deprince Race & Zollo Inc. boosted its stake in TESSCO Technologies by 7.2% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 792,932 shares of the communications equipment provider’s stock worth $9,872,000 after purchasing an additional 53,216 shares during the last quarter. 58.25% of the stock is currently owned by institutional investors.
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About TESSCO Technologies
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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