TiVo (TIVO) Downgraded to Hold at Zacks Investment Research

TiVo (NASDAQ:TIVO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “TiVo is benefiting from new licensing agreements and launch of innovative products. Its strategy of offering real-time content on all devices can drive demand for its products, going forward. The company recently launched BOLT series of DVRs which has been gaining significant traction. Partnerships with companies like Opera and Netflix are also likely to boost TiVo’s growth. Besides, the company's cost reducing efforts are expected to pay off, going forward. However, loss of four settlement deals for the company’s Legacy TiVo Time Warp IP that ended this year, is hurting TiVo's top-line. Besides, significant competition from Google TV, Roku and Apple TV is eroding its subscriber base. Shares have underperformed the industry in the past year.”

Several other equities analysts also recently weighed in on TIVO. BidaskClub upgraded TiVo from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. ValuEngine downgraded TiVo from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.50.

NASDAQ TIVO opened at $10.96 on Thursday. TiVo has a twelve month low of $8.73 and a twelve month high of $15.95. The stock has a market cap of $1.37 billion, a P/E ratio of 11.18 and a beta of -0.19. The company has a current ratio of 3.55, a quick ratio of 3.49 and a debt-to-equity ratio of 0.55.

TiVo (NASDAQ:TIVO) last released its earnings results on Wednesday, November 7th. The technology company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.44). TiVo had a positive return on equity of 4.65% and a negative net margin of 5.76%. The business had revenue of $164.70 million for the quarter, compared to analysts’ expectations of $166.85 million. During the same quarter last year, the company posted $0.40 earnings per share. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. On average, equities analysts anticipate that TiVo will post 0.75 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Stone Ridge Asset Management LLC acquired a new stake in TiVo during the 3rd quarter valued at approximately $162,000. Stevens Capital Management LP acquired a new position in TiVo during the 3rd quarter valued at approximately $172,000. Verition Fund Management LLC acquired a new position in TiVo during the 3rd quarter valued at approximately $181,000. Fondren Management LP acquired a new position in TiVo during the 2nd quarter valued at approximately $202,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in TiVo during the 3rd quarter valued at approximately $210,000. Institutional investors own 92.15% of the company’s stock.

TiVo Company Profile

TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide. The company operates in two segments, Product and Intellectual Property Licensing. The Product segment offers platform solutions, such as TiVo Service Platform, a cloud-based service that powers the TiVo Service client software, which operates on set-top boxes in consumer homes, as well as applications that operate on third party software platforms, such as iOS and Android; user experience solutions that allow service providers to customize elements of the interactive program guides for their customers, as well as to upgrade their programming features and services under the G-GUIDE brand; and CubiTV and TiVo Lite middleware solutions for pay TV service providers comprising cable, satellite, terrestrial, and telecommunications operators.

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