Trend Micro Inc. (OTCMKTS:TMICY – Get Free Report) dropped 17.8% during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $35.80 and last traded at $35.80. 1,091 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 30,929 shares. The stock had previously closed at $43.56.
The technology company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Trend Micro had a net margin of 13.23% and a return on equity of 30.36%. The business had revenue of $469.40 million for the quarter, compared to the consensus estimate of $456.51 million.
Wall Street Analyst Weigh In
TMICY has been the subject of a number of research analyst reports. Jefferies Financial Group raised Trend Micro from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Zacks Research raised shares of Trend Micro from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy”.
Trend Micro Trading Down 17.8%
The business has a fifty day simple moving average of $38.91 and a two-hundred day simple moving average of $36.89. The stock has a market cap of $4.68 billion, a PE ratio of 19.04 and a beta of 0.80.
Trend Micro Company Profile
Trend Micro Incorporated is a global cybersecurity company that develops software and services to protect data and networks from evolving digital threats. Headquartered in Tokyo, Japan, with additional offices in North America, Europe and Asia-Pacific, the company offers solutions designed to safeguard businesses, governments and individual users. Since its founding in 1988, Trend Micro has focused on leveraging advanced threat intelligence and machine learning to deliver proactive security measures.
The company’s product portfolio spans endpoint security, network defense, cloud security and threat intelligence services.
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