TESSCO Technologies, Inc. (NASDAQ:TESS) – Analysts at William Blair boosted their Q2 2021 EPS estimates for shares of TESSCO Technologies in a research report issued to clients and investors on Tuesday, July 28th. William Blair analyst M. Nolan now forecasts that the communications equipment provider will post earnings of ($0.34) per share for the quarter, up from their previous forecast of ($0.45). William Blair also issued estimates for TESSCO Technologies’ Q3 2021 earnings at ($0.23) EPS, Q4 2021 earnings at ($0.15) EPS, FY2021 earnings at ($1.25) EPS, Q2 2022 earnings at ($0.06) EPS, Q3 2022 earnings at ($0.05) EPS and FY2022 earnings at ($0.10) EPS.
Separately, ValuEngine raised TESSCO Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 1st.
TESSCO Technologies (NASDAQ:TESS) last issued its earnings results on Monday, July 27th. The communications equipment provider reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. TESSCO Technologies had a negative return on equity of 9.29% and a negative net margin of 4.48%. The business had revenue of $119.81 million during the quarter, compared to analyst estimates of $110.81 million.
A number of institutional investors have recently modified their holdings of TESS. Marquette Asset Management LLC increased its position in shares of TESSCO Technologies by 127.1% during the second quarter. Marquette Asset Management LLC now owns 32,861 shares of the communications equipment provider’s stock valued at $181,000 after acquiring an additional 18,393 shares during the last quarter. State Street Corp increased its position in shares of TESSCO Technologies by 2.8% during the first quarter. State Street Corp now owns 112,168 shares of the communications equipment provider’s stock valued at $549,000 after acquiring an additional 3,016 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of TESSCO Technologies during the first quarter valued at approximately $218,000. Morgan Stanley increased its position in shares of TESSCO Technologies by 11.4% during the first quarter. Morgan Stanley now owns 29,926 shares of the communications equipment provider’s stock valued at $146,000 after acquiring an additional 3,063 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of TESSCO Technologies by 49.3% during the first quarter. Wells Fargo & Company MN now owns 16,526 shares of the communications equipment provider’s stock valued at $80,000 after acquiring an additional 5,458 shares during the last quarter. 59.51% of the stock is owned by institutional investors and hedge funds.
About TESSCO Technologies
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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