Earnings Preview for Rovi (ROVI)

Rovi ROVI is scheduled to report first-quarter 2011 results after the closing bell Tuesday, May 10. Analysts are looking for the Santa Clara, California-based tech company to announce that earnings came to $0.51 per share. That is an increase of 11.8% from a year ago, as well as unchanged from the consensus estimate 60 days ago. Rovi's earnings have not fallen short of expectations in the past five quarters. The company was formerly known as Macrovision Solutions but changed its name in July 2009. Rovi provides digital entertainment technology solutions for the management of entertainment content, including home network connection, content protection, media recognition technologies, and media guide technology. Telecom service providers, cable companies, movie studios, and makers of consumer electronics use Rovi's technology to manage and protect digital content and track customer usage patterns. During the three months that ended in March, Rovi completed its acquisition of Sonic Solutions and also launched an entertainment guide for the iPad. The revenue forecast for that period calls for $188.1 million, which is an increase of 44.6% from the same period of last year. Rovi has a consensus Buy rating and a mean price target of $69.56. The share price reached a 52-week high of $69.50 early in the year, but the stock has pulled back since then and opened today at $48.55. That is still well up from the 52-week low of $34.99, though.