TiVo (NASDAQ:TIVO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday, January 5th.
According to Zacks, “We are concerned about the uncertainty regarding the settlement of the ongoing dispute between TiVo and Comcast, which may hurt the company’s 2018 revenue growth. It should be noted that in November 2017, the U.S. International Trade Commission ruled in favor of Rovi, now TiVo, regarding set-top box patent case against Comcast. The ruling banned Comcast from importing certain X1 set-top boxes as the court found them violating two patents of Rovi. However, Comcast has decided to fight against the ruling in the US Patent and Trademark office, which may take another 8-12 months to resolve. Also, Comcast may not renew its existing licensing agreement with TiVo, which is set to expire in July this year, thereby resulting in a huge loss of revenues for the company. All this makes us increasingly cautious about TiVo near-term prospects. Notably, TiVo has underperformed the industry in the last one year.”
Several other equities research analysts have also recently commented on TIVO. Cowen reiterated a “buy” rating and set a $30.00 price target on shares of TiVo in a research report on Friday, September 8th. Jefferies Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of TiVo in a research note on Thursday, September 21st. ValuEngine raised shares of TiVo from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. B. Riley restated a “buy” rating and set a $31.00 target price on shares of TiVo in a report on Monday, October 9th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $25.00 price objective on shares of TiVo in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. TiVo has a consensus rating of “Buy” and a consensus price target of $22.75.
TiVo (TIVO) traded down $0.30 during trading hours on Friday, hitting $14.75. 1,150,000 shares of the stock were exchanged, compared to its average volume of 1,842,361. The company has a market cap of $1,836.91, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. The company has a quick ratio of 2.33, a current ratio of 2.38 and a debt-to-equity ratio of 0.53. TiVo has a one year low of $13.75 and a one year high of $21.75.
TiVo (NASDAQ:TIVO) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.07). The firm had revenue of $197.90 million for the quarter, compared to analyst estimates of $190.83 million. TiVo had a positive return on equity of 4.72% and a negative net margin of 5.39%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 EPS. equities research analysts predict that TiVo will post 1.25 earnings per share for the current fiscal year.
In related news, CEO Enrique Rodriguez bought 55,974 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was purchased at an average price of $17.86 per share, with a total value of $999,695.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.57% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its holdings in shares of TiVo by 9.7% in the third quarter. Neuberger Berman Group LLC now owns 2,627,610 shares of the technology company’s stock worth $52,158,000 after acquiring an additional 232,034 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of TiVo by 33.5% in the second quarter. BNP Paribas Arbitrage SA now owns 40,308 shares of the technology company’s stock worth $752,000 after acquiring an additional 10,105 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its holdings in shares of TiVo by 3.4% in the third quarter. Eagle Boston Investment Management Inc. now owns 267,270 shares of the technology company’s stock worth $5,305,000 after acquiring an additional 8,899 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of TiVo by 8.7% in the second quarter. Legal & General Group Plc now owns 232,100 shares of the technology company’s stock worth $4,325,000 after acquiring an additional 18,589 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of TiVo by 5.1% in the second quarter. State Street Corp now owns 3,138,996 shares of the technology company’s stock worth $58,540,000 after acquiring an additional 151,139 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
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TiVo Corporation is engaged in offering media and entertainment products. The Company operates through two segments: Intellectual Property Licensing and Product. The Company’s Product segment includes a suite of component technologies that can be integrated into media service provider internally developed platforms or deployed as an integrated TiVo solution.
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