Rovi (ROVI) Announces Quarterly Results
Rovi (NASDAQ:ROVI) announced its earnings results on Wednesday. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.02, AnalystRatings.Net reports. The company had revenue of $137.10 million for the quarter, compared to the consensus estimate of $127.85 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Rovi updated its FY14 guidance to #1.52-1.80 EPS.
A number of analysts have recently weighed in on ROVI shares. Analysts at Zacks downgraded shares of Rovi from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $26.70 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Rovi currently has a consensus rating of “Hold” and a consensus price target of $22.12.
Rovi (NASDAQ:ROVI) traded up 1.76% during mid-day trading on Wednesday, hitting $23.71. The stock had a trading volume of 564,899 shares. Rovi has a 52 week low of $16.00 and a 52 week high of $25.34. The stock’s 50-day moving average is $23.72 and its 200-day moving average is $23.23. The company’s market cap is $2.217 billion.
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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