TESSCO Technologies, Inc. (NASDAQ:TESS) released its quarterly earnings results on Monday. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.15. TESSCO Technologies had a net margin of 0.06% and a return on equity of 1.12%. The company had revenue of $122.60 million during the quarter, compared to analysts’ expectations of $121.32 million.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 7th. Investors of record on Wednesday, May 24th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Monday, May 22nd. TESSCO Technologies’s payout ratio is presently 2,000.00%.
Separately, Zacks Investment Research upgraded shares of TESSCO Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd.
Hedge funds have recently bought and sold shares of the company. RBF Capital LLC increased its stake in TESSCO Technologies by 7.5% in the third quarter. RBF Capital LLC now owns 11,523 shares of the communications equipment provider’s stock worth $143,000 after buying an additional 800 shares during the period. Spark Investment Management LLC bought a new stake in TESSCO Technologies during the third quarter worth about $155,000. Algert Global LLC bought a new stake in TESSCO Technologies during the first quarter worth about $249,000. HPM Partners LLC bought a new stake in TESSCO Technologies during the first quarter worth about $322,000. Finally, Goldman Sachs Group Inc. increased its stake in TESSCO Technologies by 103.7% in the first quarter. Goldman Sachs Group Inc. now owns 21,191 shares of the communications equipment provider’s stock worth $333,000 after buying an additional 10,789 shares during the period. Institutional investors and hedge funds own 60.90% of the company’s stock.
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TESSCO Technologies Company Profile
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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