TiVo Corp (NASDAQ:TIVO) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Shareholders of record on Thursday, December 6th will be paid a dividend of 0.18 per share by the technology company on Thursday, December 20th. This represents a $0.72 annualized dividend and a yield of 6.50%. The ex-dividend date is Wednesday, December 5th.
TiVo has a dividend payout ratio of 109.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TiVo to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 91.1%.
TiVo stock traded up $0.59 on Friday, hitting $11.07. 2,400,037 shares of the stock traded hands, compared to its average volume of 1,037,977. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.49 billion, a P/E ratio of 11.29 and a beta of -0.19. TiVo has a 1 year low of $10.45 and a 1 year high of $19.48.
Several equities analysts have recently weighed in on TIVO shares. Zacks Investment Research upgraded TiVo from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. ValuEngine downgraded TiVo from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 25th. JPMorgan Chase & Co. reduced their price target on TiVo from $30.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, August 9th. BidaskClub upgraded TiVo from a “strong sell” rating to a “sell” rating in a report on Friday, August 10th. Finally, B. Riley raised their price target on TiVo from $19.00 to $23.00 and gave the company a “buy” rating in a report on Monday, August 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.00.
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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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