Share Buyback Plan Authorized by Tucows (TCX) Board

Tucows (NASDAQ:TCX) (TSE:TC) declared that its Board of Directors has initiated a stock repurchase program, which permits the company to repurchase $40.00 million in shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Shares of Tucows (NASDAQ TCX) traded up $0.30 during mid-day trading on Thursday, hitting $57.55. 361,500 shares of the stock were exchanged, compared to its average volume of 165,412. Tucows has a 52-week low of $44.15 and a 52-week high of $71.75. The company has a market capitalization of $605.57, a price-to-earnings ratio of 44.27 and a beta of 0.69. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.82.

Tucows (NASDAQ:TCX) (TSE:TC) last announced its quarterly earnings results on Wednesday, February 14th. The information services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.25). Tucows had a return on equity of 35.17% and a net margin of 4.85%. The company had revenue of $90.60 million during the quarter, compared to the consensus estimate of $90.80 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 85.7% compared to the same quarter last year. sell-side analysts forecast that Tucows will post 1.75 EPS for the current year.

Several research analysts have issued reports on TCX shares. BidaskClub cut shares of Tucows from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Tucows from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th.

In related news, Director Allen Karp sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $63.31, for a total transaction of $189,930.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rawleigh Hazen Iv Ralls sold 6,772 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $64.09, for a total transaction of $434,017.48. The disclosure for this sale can be found here. Insiders sold 13,835 shares of company stock valued at $877,867 over the last quarter. Company insiders own 13.20% of the company’s stock.

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Tucows Company Profile

Tucows Inc is engaged in providing Internet services. The Company’s segments include Network Access Services and Domain Services. The Network Access Services segment includes mobile, fixed high-speed Internet access services, Internet hosting and network consulting services. The Domain Services segment wholesale and retail domain name registration services, value added services and portfolio services.

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