Trend Micro (OTCMKTS:TMICY) Trading Down 17.8% After Earnings Miss

Shares of Trend Micro Inc. (OTCMKTS:TMICY) traded down 17.8% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $35.80 and last traded at $35.80. Approximately 1,091 shares were traded 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 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). Trend Micro had a return on equity of 30.36% and a net margin of 13.23%.The business had revenue of $469.40 million during the quarter, compared to the consensus estimate of $456.51 million.

Wall Street Analyst Weigh In

TMICY has been the topic of several recent research reports. Jefferies Financial Group upgraded Trend Micro from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Zacks Research upgraded Trend Micro from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy”.

Trend Micro Price Performance

The firm’s 50 day moving average price is $38.91 and its 200 day moving average price is $36.89. The stock has a market capitalization of $4.68 billion, a P/E 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.