Rovi Corp. (NASDAQ:ROVI) had their EPS estimate lowered by Kaufman Bros., based on their belief the company will be experiencing some profit-taking soon.
Kaufman cited the run-up in the share price of Rovi by 94 percent in 2010 as a major part of their reasoning.
They lowered their full year 2011 EPS/revenue estimates to $2.55/$605 million from $2.65/$622 million. Rovi also gave guidance of $585 million - $615 million for revenue and $2.35-$2.55 for EPS estimates for full year 2011.
Rovi added full year 2011 revenue will be more back-ended than normal.
Kaufman said they see this as a positive and would consider a pullback a buying opportunity.
Rovi closed Monday at $64.33, gaining $1.55, or 2.47 percent. Volume was over 4 times the 3-month daily average.
Tuesday, January 11, 2011
Rovi Corp. (NASDAQ:ROVI) Estimates Lowered on Probable Profit-Taking
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