Analysts Expect TESSCO Technologies, Inc. (TESS) to Announce $0.08 Earnings Per Share

Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Zacks has also given TESSCO Technologies an industry rank of 178 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently weighed in on TESS. Zacks Investment Research upgraded TESSCO Technologies from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday. TheStreet upgraded TESSCO Technologies from a “c+” rating to a “b-” rating in a report on Monday, December 11th.

Several hedge funds and other institutional investors have recently modified their holdings of TESS. Northern Trust Corp increased its holdings in shares of TESSCO Technologies by 1.8% in the 2nd quarter. Northern Trust Corp now owns 71,148 shares of the communications equipment provider’s stock valued at $945,000 after acquiring an additional 1,228 shares during the last quarter. Vanguard Group Inc. boosted its position in TESSCO Technologies by 62.6% during the 2nd quarter. Vanguard Group Inc. now owns 314,667 shares of the communications equipment provider’s stock valued at $4,185,000 after purchasing an additional 121,192 shares during the period. Dimensional Fund Advisors LP boosted its position in TESSCO Technologies by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,664 shares of the communications equipment provider’s stock valued at $6,353,000 after purchasing an additional 24,847 shares during the period. Stifel Financial Corp boosted its position in TESSCO Technologies by 26.5% during the 2nd quarter. Stifel Financial Corp now owns 32,500 shares of the communications equipment provider’s stock valued at $434,000 after purchasing an additional 6,818 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in TESSCO Technologies by 8.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 22,935 shares of the communications equipment provider’s stock valued at $305,000 after purchasing an additional 1,744 shares during the period. Institutional investors and hedge funds own 58.28% of the company’s stock.

Shares of TESSCO Technologies (NASDAQ:TESS) traded up $0.55 during midday trading on Monday, hitting $23.00. The stock had a trading volume of 61,189 shares, compared to its average volume of 50,826. TESSCO Technologies has a 1-year low of $12.15 and a 1-year high of $23.65. The company has a market cap of $183.90, a P/E ratio of 60.53 and a beta of 1.31.

TESSCO Technologies (NASDAQ:TESS) last issued its quarterly earnings results on Tuesday, January 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.11. TESSCO Technologies had a return on equity of 3.43% and a net margin of 0.57%. The business had revenue of $146.26 million during the quarter, compared to the consensus estimate of $144.00 million. research analysts anticipate that TESSCO Technologies will post 0.56 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.48%. TESSCO Technologies’s dividend payout ratio (DPR) is 210.53%.

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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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