TiVo Corporation Gets a Buy Rating from B.Riley FBR

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on TiVo Corporation (NASDAQ: TIVO). The company’s shares closed yesterday at $14.15.

Wold wrote:

“TiVo Corporation (TIVO) is scheduled to report 1Q18 results after the close on Thursday, 5/10, with a call at 5:00pm ET. Other than adjusting our EBITDA and EPS estimates to remove a cosmetic ASC 606 add-back to create a more apples-to-apples comparison, we remain comfortable with our 1Q18 estimates and see an upside bias given the licensing activity in the quarter. Given our belief management is unlikely to provide any 2018 guidance with an ongoing strategic review, we would expect the focus of the call to be on 1) TIVO’s improvements to underlying licensing trends (with new/expanded agreements); and 2) the potential for TIVO to pursue additional major mobile and OTT licensing opportunities via litigation. We believe both of these could not only drive upside to TIVO’s estimates and valuation, but boost attractiveness as a takeover candidate. We are reiterating our Buy rating and $19.50 PT.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.5% and a 53.0% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

TiVo Corporation has an analyst consensus of Strong Buy, with a price target consensus of $24.50.

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Based on TiVo Corporation’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $214 million and quarterly net profit of $18.44 million. In comparison, last year the company earned revenue of $206 million and had a GAAP net loss of $34.66 million.

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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.