Tucows (NASDAQ:TCX) Reaches New 12-Month Low After Earnings Miss

Tucows Inc. (NASDAQ:TCX) (TSE:TC)’s stock price reached a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $45.26 and last traded at $45.27, with a volume of 4784 shares. The stock had previously closed at $46.21.

The information services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). Tucows had a net margin of 4.92% and a return on equity of 21.03%. The business had revenue of $84.11 million for the quarter, compared to analyst estimates of $81.00 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.

TCX has been the subject of several recent analyst reports. TheStreet downgraded Tucows from a “b-” rating to a “c+” rating in a research note on Monday, July 29th. Echelon Wealth Partners downgraded Tucows from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Zacks Investment Research downgraded Tucows from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 16th. ValuEngine downgraded Tucows from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, BidaskClub downgraded Tucows from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Tucows currently has an average rating of “Sell” and an average price target of $100.00.

In other news, CEO Elliot Noss sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $49.13, for a total value of $73,695.00. Following the completion of the transaction, the chief executive officer now directly owns 554,135 shares of the company’s stock, valued at approximately $27,224,652.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David John Woroch sold 6,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $60.68, for a total value of $364,080.00. Following the completion of the transaction, the executive vice president now directly owns 52,872 shares of the company’s stock, valued at $3,208,272.96. The disclosure for this sale can be found here. Corporate insiders own 13.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY increased its holdings in Tucows by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,115 shares of the information services provider’s stock valued at $187,000 after purchasing an additional 2,433 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Tucows by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 28,760 shares of the information services provider’s stock valued at $1,727,000 after purchasing an additional 1,065 shares in the last quarter. FMR LLC increased its holdings in Tucows by 64,185.7% during the 4th quarter. FMR LLC now owns 450,000 shares of the information services provider’s stock valued at $27,027,000 after purchasing an additional 449,300 shares in the last quarter. Legal & General Group Plc increased its holdings in Tucows by 17.5% during the 4th quarter. Legal & General Group Plc now owns 1,794 shares of the information services provider’s stock valued at $108,000 after purchasing an additional 267 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Tucows by 49,575.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,987 shares of the information services provider’s stock valued at $161,000 after purchasing an additional 1,983 shares in the last quarter. 59.63% of the stock is owned by hedge funds and other institutional investors.

The stock’s fifty day simple moving average is $54.08. The firm has a market capitalization of $492.76 million, a PE ratio of 30.31 and a beta of 1.18. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.76 and a quick ratio of 0.74.

About Tucows (NASDAQ:TCX)

Tucows Inc provides network access, domain name registration, email, mobile telephony, and other Internet services in Canada, the United States, and Germany. It operates in two segments, Network Access Services and Domain Services. The Network Access Services segment engages in the provision of mobile services under the Ting Mobile name, including the sale of retail telephony services, mobile phone hardware, and related accessories.

Featured Article: Why investors pay attention to retained earnings

Receive News & Ratings for Tucows Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tucows and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit