Tessco Technologies (TESS - Free Report) closed at $16.63 in the latest trading session, marking a +0.79% move from the prior day. This move outpaced the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the wireless communications company had lost 0.3% over the past month, lagging the Computer and Technology sector's gain of 5.1% and the S&P 500's gain of 2.57% in that time.
Investors will be hoping for strength from TESS as it approaches its next earnings release. The company is expected to report EPS of $0.16, up 128.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $147.88 million, down 0.7% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for TESS. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TESS is currently a Zacks Rank #3 (Hold).
Investors should also note TESS's current valuation metrics, including its Forward P/E ratio of 21.43. This valuation marks a premium compared to its industry's average Forward P/E of 20.81.
The Communication - Components industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TESS in the coming trading sessions, be sure to utilize Zacks.com.