Zacks Downgrades Rovi Corp. to Underperform (ROVI)
Rovi Corp. (NASDAQ:ROVI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Monday, ARN reports. They currently have a $15.90 price target on the stock. Zacks‘ price objective points to a potential downside of 5.24% from the company’s current price.
ROVI has been the subject of a number of other recent research reports. Analysts at Cowen and Company cut their price target on shares of Rovi Corp. from $19.00 to $16.50 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Brean Capital cut their price target on shares of Rovi Corp. from $26.00 to $22.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Rovi Corp. in a research note to investors on Thursday. They now have a $20.00 price target on the stock, down previously from $24.00. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Rovi Corp. presently has an average rating of “Hold” and a consensus price target of $20.32.
Shares of Rovi Corp. (NASDAQ:ROVI) traded up 0.24% on Monday, hitting $16.82. 528,766 shares of the company’s stock traded hands. Rovi Corp. has a 52 week low of $14.16 and a 52 week high of $26.55. The stock’s 50-day moving average is $18.69 and its 200-day moving average is $21.29. The company’s market cap is $1.643 billion.
Rovi Corp. (NASDAQ:ROVI) last announced its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.07. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $151.93 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. Analysts expect that Rovi Corp. will post $1.87 EPS for the current fiscal year.
Rovi Corporation is focused on powering the discovery and enjoyment of digital entertainment by providing a set of integrated solutions that are embedded in its customers’ products and services and used by end consumers to simplify and guide their interaction with digital entertainment.
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