ValuEngine Downgrades TESSCO Technologies (TESS) to Hold

ValuEngine cut shares of TESSCO Technologies (NASDAQ:TESS) from a buy rating to a hold rating in a report published on Monday, ValuEngine reports.

A number of other equities analysts have also commented on TESS. Zacks Investment Research lowered TESSCO Technologies from a hold rating to a sell rating in a research note on Saturday, May 11th. TheStreet raised TESSCO Technologies from a c+ rating to a b rating in a research note on Friday, February 1st.

Shares of TESS stock opened at $18.81 on Monday. The firm has a market capitalization of $159.19 million, a P/E ratio of 28.94 and a beta of 1.40. TESSCO Technologies has a one year low of $10.20 and a one year high of $20.00.

TESSCO Technologies (NASDAQ:TESS) last posted its quarterly earnings data on Monday, May 6th. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.10). The business had revenue of $144.96 million during the quarter, compared to analyst estimates of $147.88 million. TESSCO Technologies had a return on equity of 5.11% and a net margin of 0.91%. Equities analysts forecast that TESSCO Technologies will post 0.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.25%. TESSCO Technologies’s payout ratio is currently 123.08%.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of TESSCO Technologies by 29.3% during the first quarter. Morgan Stanley now owns 12,296 shares of the communications equipment provider’s stock worth $190,000 after acquiring an additional 2,790 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of TESSCO Technologies by 1.1% during the first quarter. Renaissance Technologies LLC now owns 445,900 shares of the communications equipment provider’s stock worth $6,903,000 after acquiring an additional 4,700 shares during the last quarter. Tieton Capital Management LLC raised its position 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 worth $5,115,000 after acquiring an additional 31,250 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TESSCO Technologies by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 628,643 shares of the communications equipment provider’s stock worth $9,731,000 after acquiring an additional 12,995 shares during the last quarter. Finally, Crawford Investment Counsel Inc. raised its position in shares of TESSCO Technologies by 3.4% during the first quarter. Crawford Investment Counsel Inc. now owns 293,566 shares of the communications equipment provider’s stock worth $4,544,000 after acquiring an additional 9,609 shares during the last quarter. Institutional investors own 59.07% 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.

Featured Story: How to Invest in Growth Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.