Tucows (TCX) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Tucows (NASDAQ:TCX) (TSE:TC) from a hold rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Tucows Inc. is a pioneering provider of personalized information agents and Web sites. They deliver information over the Internet and other communications mediums such as email. Their sites provide users with relevant information they cannot conveniently locate in any one place elsewhere on the Internet. “

Several other analysts have also weighed in on the company. ValuEngine lowered Tucows from a strong-buy rating to a buy rating in a report on Wednesday, May 1st. BidaskClub raised Tucows from a hold rating to a buy rating in a report on Friday, January 25th. Finally, Echelon Wealth Partners reissued a buy rating on shares of Tucows in a report on Tuesday, March 19th.

NASDAQ:TCX opened at $63.15 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 0.76. Tucows has a one year low of $49.69 and a one year high of $90.21. The stock has a market capitalization of $673.17 million, a P/E ratio of 39.72 and a beta of 0.78.

Tucows (NASDAQ:TCX) (TSE:TC) last released its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Tucows had a return on equity of 21.03% and a net margin of 4.92%. The business had revenue of $78.95 million during the quarter, compared to analyst estimates of $83.00 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue was down 17.6% compared to the same quarter last year. As a group, equities research analysts predict that Tucows will post 1.94 earnings per share for the current year.

In related news, Director Jeffrey Nathan Schwartz sold 3,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $80.50, for a total value of $241,500.00. Following the completion of the transaction, the director now directly owns 12,625 shares of the company’s stock, valued at approximately $1,016,312.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rawleigh Hazen Iv Ralls sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.85, for a total value of $389,250.00. Following the completion of the transaction, the director now directly owns 6,761 shares of the company’s stock, valued at $526,343.85. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $1,489,000 over the last ninety days. Corporate insiders own 11.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY lifted its position in Tucows by 356.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,115 shares of the information services provider’s stock worth $187,000 after purchasing an additional 2,433 shares during the period. Squarepoint Ops LLC lifted its position in Tucows by 53.2% in the fourth quarter. Squarepoint Ops LLC now owns 9,508 shares of the information services provider’s stock worth $571,000 after purchasing an additional 3,303 shares during the period. LPL Financial LLC acquired a new stake in Tucows in the fourth quarter worth approximately $2,303,000. Vanguard Group Inc lifted its position in Tucows by 5.7% in the third quarter. Vanguard Group Inc now owns 76,213 shares of the information services provider’s stock worth $4,249,000 after purchasing an additional 4,143 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Tucows by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 28,760 shares of the information services provider’s stock worth $1,727,000 after purchasing an additional 1,065 shares during the period. 55.94% of the stock is owned by institutional investors and hedge funds.

Tucows Company Profile

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.

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