Zacks Investment Research upgraded shares of TiVo Corp (NASDAQ:TIVO) from a strong sell rating to a hold rating in a research note released on Tuesday, April 18th.
According to Zacks, “The merger of TiVo and Rovi has brought together two leading players in the media entertainment industry with complementary products and services and a number of patented technologies. However, the actual synergies from the merger will take some time to reflect in the company’s performance and much depends on how successfully it integrates the legacy business of TiVo. Also, the company’s lower-than-expected revenue projection for 2017 makes us increasingly cautious about its future growth prospects. Additionally, increasing competition from the likes of Dish and Cablevision seems to be the primary headwind in the near term. Notably, TiVo has underperformed the Zacks categorized Internet Services industry in the last three months.”
Other equities analysts have also issued research reports about the company. B. Riley reiterated a buy rating and set a $31.00 price objective on shares of TiVo Corp in a research note on Monday, February 20th. Piper Jaffray Companies cut their price target on TiVo Corp from $27.00 to $25.00 and set an overweight rating for the company in a research note on Friday, March 24th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $22.30.
TiVo Corp (NASDAQ:TIVO) traded down 0.62% on Tuesday, hitting $15.95. The stock had a trading volume of 665,821 shares. TiVo Corp has a 52 week low of $15.06 and a 52 week high of $23.40. The firm has a 50-day moving average of $18.42 and a 200 day moving average of $19.42. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 104.25 and a beta of 0.84.
TiVo Corp (NASDAQ:TIVO) last released its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.08. The business had revenue of $205.76 million during the quarter, compared to analyst estimates of $188.79 million. TiVo Corp had a positive return on equity of 8.88% and a negative net margin of 3.78%. The company’s revenue was up 73.8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. On average, analysts predict that TiVo Corp will post $0.43 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, June 2nd.
Several hedge funds have recently bought and sold shares of the company. Oribel Capital Management LP bought a new stake in TiVo Corp during the fourth quarter worth $627,000. Allianz Asset Management AG raised its stake in TiVo Corp by 53.5% in the fourth quarter. Allianz Asset Management AG now owns 831,061 shares of the technology company’s stock worth $17,369,000 after buying an additional 289,527 shares in the last quarter. Bayesian Capital Management LP bought a new stake in TiVo Corp during the fourth quarter worth $633,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of TiVo Corp during the fourth quarter worth approximately $280,000. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of TiVo Corp by 81.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,928,997 shares of the technology company’s stock worth $40,316,000 after buying an additional 867,392 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.
About TiVo Corp
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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