Equities analysts forecast that Roku Inc (NASDAQ:ROKU) will announce earnings of ($0.14) per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Roku’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.11). Roku posted earnings of ($8.79) per share during the same quarter last year, which indicates a positive year over year growth rate of 98.4%. The business is expected to announce its next quarterly earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Roku will report full year earnings of ($0.15) per share for the current financial year, with EPS estimates ranging from ($0.21) to ($0.07). For the next year, analysts anticipate that the company will post earnings of ($0.08) per share, with EPS estimates ranging from ($0.28) to $0.11. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Roku.
Several brokerages recently weighed in on ROKU. Cannonball Research increased their price objective on Roku from $68.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. Our analysis of the composition of advertising revenue growth gives us incremental comfort with our revenue forecast for FY18-20. It also supports our Buy thesis based on the belief that ROKU works only if the advertising revenue story works. We think that inventory sell through which has been a relatively small revenue driver so far can become more significant in the mid-term. Royal Bank of Canada restated a “hold” rating and set a $48.00 price target on shares of Roku in a research note on Thursday, August 9th. Oppenheimer upgraded Roku from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Tuesday, July 3rd. Zacks Investment Research cut Roku from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, Citigroup upped their price target on Roku from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $62.25.
In other Roku news, SVP Stephen H. Kay sold 36,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $76.42, for a total transaction of $2,751,120.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Chas Smith sold 82,811 shares of the company’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $72.64, for a total value of $6,015,391.04. The disclosure for this sale can be found here. Insiders have sold 1,495,181 shares of company stock worth $90,178,728 over the last 90 days. 0.55% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Spence Asset Management raised its stake in shares of Roku by 1.5% in the third quarter. Spence Asset Management now owns 162,956 shares of the company’s stock valued at $11,900,000 after acquiring an additional 2,451 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Roku in the second quarter valued at $317,000. Northern Trust Corp raised its stake in shares of Roku by 1,322.1% in the second quarter. Northern Trust Corp now owns 520,742 shares of the company’s stock valued at $22,193,000 after acquiring an additional 484,125 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Roku by 588.7% in the second quarter. Bank of New York Mellon Corp now owns 141,695 shares of the company’s stock valued at $6,039,000 after acquiring an additional 121,120 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Roku in the second quarter valued at $288,000. Institutional investors and hedge funds own 33.75% of the company’s stock.
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
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