Albert Fried & Company Downgrades Rentrak (RENT) to Underweight on Weak Financial Results
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Price: $23.86 -1.45%
Rating Summary:
4 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
4 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade RENT Now!
Albert Fried & Company downgraded Rentrak (NASDAQ: RENT) from Market Perform to Underweight with a price target of $13.00 (from $18.00).
Analyst, Rich Tullo, said, "RENT reported weak results in our view as revenue missed our estimate and the Company’s operating loss was below our estimate even excluding a $1.1 million one time charge in Europe. RENT’s AMI segment benefited from new TTV and Cable network deals however growth was about 10% below our 40% AMI growth estimate which proved to be too optimistic. however to be clear, AMI Y/Y growth did accelerate to 29% in F4Q12A from 16% in F3Q12A. The issue in our view is Home DVD declines could offset even robust AMI gains in FY2013E."
For an analyst ratings summary and ratings history on Rentrak click here. For more ratings news on Rentrak click here.
Shares of Rentrak closed at $15.70 yesterday, with a 52 week range of $11.23-$23.27.
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Analyst, Rich Tullo, said, "RENT reported weak results in our view as revenue missed our estimate and the Company’s operating loss was below our estimate even excluding a $1.1 million one time charge in Europe. RENT’s AMI segment benefited from new TTV and Cable network deals however growth was about 10% below our 40% AMI growth estimate which proved to be too optimistic. however to be clear, AMI Y/Y growth did accelerate to 29% in F4Q12A from 16% in F3Q12A. The issue in our view is Home DVD declines could offset even robust AMI gains in FY2013E."
For an analyst ratings summary and ratings history on Rentrak click here. For more ratings news on Rentrak click here.
Shares of Rentrak closed at $15.70 yesterday, with a 52 week range of $11.23-$23.27.
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