Rovi Corp PT Raised to $24.00 at BMO Capital Markets (ROVI)
BMO Capital Markets raised their price target on shares of Rovi Corp (NASDAQ: ROVI) from $21.00 to $24.00 in a research note issued on Wednesday. The firm currently has a “market perform” rating on the stock.
ROVI has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Rovi Corp from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $22.30 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of Rovi Corp from a “neutral” rating to an “overweight” rating in a research note to investors on Monday. They now have a $28.00 price target on the stock, up previously from $19.00. Finally, analysts at TheStreet upgraded shares of Rovi Corp from a “sell” rating to a “hold” rating in a research note to investors on Friday, February 22nd.
Six research analysts have rated the stock with a buy rating, and six have issued a hold rating to the company. Rovi Corp presently has an average rating of “overweight” and an average price target of $21.86.
Rovi Corp traded down 0.98% on Wednesday, hitting $21.22. Rovi Corp has a 52-week low of $9.91 and a 52-week high of $34.88. The stock’s 50-day moving average is currently $17.84. The company’s market cap is $2.138 billion.
Rovi Corp last announced its earnings results on Wednesday, February 13th. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.04. The company had revenue of $157.00 million for the quarter, compared to the consensus estimate of $154.29 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 11.4% on a year-over-year basis. Rovi Corp has set its FY13 guidance at $1.90-2.20 EPS. On average, analysts predict that Rovi Corp will post $2.07 earnings per share for the current fiscal year.
Rovi Corporation is focused on powering the discovery and