TESSCO Technologies, Inc. (NASDAQ:TESS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Zacks has also assigned TESSCO Technologies an industry rank of 79 out of 256 based on the ratings given to related companies.
Several equities analysts recently weighed in on the company. ValuEngine raised TESSCO Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. TheStreet cut TESSCO Technologies from a “b-” rating to a “c” rating in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research lowered shares of TESSCO Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, July 26th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Management Corp VA acquired a new stake in TESSCO Technologies during the second quarter worth approximately $9,333,000. BlackRock Inc. raised its holdings in TESSCO Technologies by 192.0% in the 2nd quarter. BlackRock Inc. now owns 577,786 shares of the communications equipment provider’s stock valued at $10,320,000 after acquiring an additional 379,936 shares during the last quarter. Susquehanna International Group LLP acquired a new position in TESSCO Technologies in the 2nd quarter valued at $789,000. Municipal Employees Retirement System of Michigan acquired a new position in TESSCO Technologies in the 2nd quarter valued at $718,000. Finally, Tieton Capital Management LLC lifted its stake in shares of TESSCO Technologies by 10.4% during the 1st quarter. Tieton Capital Management LLC now owns 330,429 shares of the communications equipment provider’s stock worth $5,115,000 after purchasing an additional 31,250 shares during the period. Hedge funds and other institutional investors own 61.91% of the company’s stock.
Shares of TESSCO Technologies stock traded up $0.50 during trading on Friday, reaching $16.02. The company’s stock had a trading volume of 42,732 shares, compared to its average volume of 49,314. The business has a 50 day moving average price of $14.69 and a 200-day moving average price of $16.96. The company has a market capitalization of $131.65 million, a P/E ratio of 24.65 and a beta of 1.25. The company has a quick ratio of 0.73, a current ratio of 1.56 and a debt-to-equity ratio of 0.02. TESSCO Technologies has a 12-month low of $10.20 and a 12-month high of $20.00.
TESSCO Technologies (NASDAQ:TESS) last announced its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.21). The company had revenue of $130.73 million during the quarter, compared to analysts’ expectations of $152.00 million. TESSCO Technologies had a net margin of 0.32% and a return on equity of 2.21%. Research analysts predict that TESSCO Technologies will post 0.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Tuesday, August 6th. TESSCO Technologies’s payout ratio is 123.08%.
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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