A number of analysts have issued earnings preview notes to their clients about TiVo (NASDAQ:TIVO). TiVo reports after the market close today (2/23).
Caris & Company (2/23)
TIVO (Caris Update) Earnings Preview; Looking For Massive Upside vs. Street; Status Conference with VZ Also To Take Place TodayBrean Murray, Carret & Co. (NASDAQ:BMC) (2/22)
[S]ettlment with AT&T (NYSE:T) over IP claims now puts the digital video recorder maker close to break-even. [T]he company could generate breakeven adjusted-EBITDA results assuming a pullback in R&D and SG&A (legal expenses) from fiscal 2012's elevated levels.Hudson Square (2/21)
Hudson Square has increased TiVo's FY13 estimates following the recent AT&T settlement and positive results at Virgin Media.In other news TiVo signed a global partnership with the UK's Pace. This could results in increased high-margin subscribers starting in FY14.article published on 2/14. I expect TiVo to hit a new 52-week high within the next 5 trading days.
Hudson Square said in the report, "We forecast service and tech revenues rose 21% Y/Y to $49.9M. Driven by the assumed recognition $51M from the AT&T settlement, we have raised our GAAP EPS estimate from a loss of $0.25 to a gain of $0.12. On strong Virgin results We have raised our FY13 partner net sub forecast from 801K to 1.3M though given the lack of DIRECTV marketing, we still believe some street estimates of ~2M could prove optimistic."
Hudson Square maintains its Buy rating and $20 PT on TiVo, which closed Friday at $12.01.
Disclosure: I am long TIVO.