Zacks Investment Research Downgrades TiVo (TIVO) to Hold

Zacks Investment Research cut shares of TiVo (NASDAQ:TIVO) from a strong-buy rating to a hold rating in a report issued on Thursday morning.

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 research analysts have also recently commented on the company. BidaskClub cut TiVo from a sell rating to a strong sell rating in a research report on Saturday, October 13th. ValuEngine cut TiVo from a sell rating to a strong sell rating in a research report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $19.50.

Shares of NASDAQ TIVO opened at $10.96 on Thursday. TiVo has a 52 week low of $8.73 and a 52 week high of $15.95. The company has a quick ratio of 3.49, a current ratio of 3.55 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.37 billion, a P/E ratio of 11.18 and a beta of -0.19.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, December 20th. Investors of record on Thursday, December 6th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, December 5th. This represents a $0.72 annualized dividend and a yield of 6.57%. TiVo’s dividend payout ratio (DPR) is presently 73.47%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of TiVo by 3.3% in the third quarter. BlackRock Inc. now owns 16,952,639 shares of the technology company’s stock valued at $211,061,000 after buying an additional 546,090 shares during the last quarter. Vanguard Group Inc lifted its position in shares of TiVo by 2.5% in the third quarter. Vanguard Group Inc now owns 12,440,309 shares of the technology company’s stock valued at $154,881,000 after buying an additional 298,255 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of TiVo by 2.5% in the third quarter. Vanguard Group Inc. now owns 12,440,309 shares of the technology company’s stock valued at $154,881,000 after buying an additional 298,255 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of TiVo by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 2,488,966 shares of the technology company’s stock valued at $30,988,000 after buying an additional 86,649 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of TiVo by 0.9% in the second quarter. Northern Trust Corp now owns 2,453,777 shares of the technology company’s stock valued at $33,002,000 after buying an additional 21,439 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

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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