Trend Micro (OTCMKTS:TMICY) Shares Gap Down After Earnings Miss

Shares of Trend Micro Inc. (OTCMKTS:TMICY) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $43.56, but opened at $38.99. Trend Micro shares last traded at $38.60, with a volume of 1,875 shares changing hands.

The technology company reported $0.17 earnings per share 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%.

Analyst Upgrades and Downgrades

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

Trend Micro Trading Down 11.4%

The company’s 50-day moving average is $38.97 and its 200 day moving average is $36.90. The stock has a market capitalization of $5.04 billion, a PE ratio of 20.53 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.