Analysts Expect Roku Inc (NASDAQ:ROKU) Will Announce Quarterly Sales of $224.75 Million

Equities analysts expect that Roku Inc (NASDAQ:ROKU) will report $224.75 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Roku’s earnings. The highest sales estimate is $230.00 million and the lowest is $222.83 million. Roku reported sales of $156.81 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.3%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 7th.

On average, analysts expect that Roku will report full-year sales of $1.04 billion for the current financial year, with estimates ranging from $1.01 billion to $1.07 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.38 billion, with estimates ranging from $1.35 billion to $1.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Roku.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.15. The firm had revenue of $206.70 million for the quarter, compared to analyst estimates of $189.80 million. Roku had a negative return on equity of 4.60% and a negative net margin of 1.47%. Roku’s quarterly revenue was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share.

Several equities analysts have recently issued reports on ROKU shares. Rosenblatt Securities reiterated a “neutral” rating on shares of Roku in a research report on Thursday, May 9th. Citigroup downgraded Roku from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $53.00 to $60.60 in a report on Monday, April 8th. Royal Bank of Canada downgraded Roku from an “outperform” rating to a “sector perform” rating and set a $90.00 target price on the stock. in a report on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research raised Roku from a “hold” rating to a “strong-buy” rating and set a $91.00 target price on the stock in a report on Wednesday, May 15th. Finally, Stephens downgraded Roku from an “overweight” rating to an “equal weight” rating and set a $95.12 target price on the stock. in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Roku presently has a consensus rating of “Hold” and a consensus price target of $82.87.

ROKU traded up $2.04 during trading hours on Monday, hitting $102.57. The company’s stock had a trading volume of 7,154,127 shares, compared to its average volume of 8,760,258. Roku has a fifty-two week low of $26.30 and a fifty-two week high of $113.44. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of -1,282.13 and a beta of 2.04. The business’s 50-day moving average is $102.08.

In related news, SVP Stephen H. Kay sold 32,000 shares of Roku stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $81.77, for a total value of $2,616,640.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeff Hastings sold 15,000 shares of Roku stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $78.67, for a total transaction of $1,180,050.00. The disclosure for this sale can be found here. Insiders have sold 676,733 shares of company stock worth $67,106,092 over the last ninety days. Insiders own 22.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its stake in Roku by 422.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 114,267 shares of the company’s stock valued at $10,350,000 after purchasing an additional 92,405 shares in the last quarter. Grisanti Capital Management LLC increased its stake in Roku by 21.2% in the second quarter. Grisanti Capital Management LLC now owns 60,216 shares of the company’s stock valued at $5,454,000 after purchasing an additional 10,553 shares in the last quarter. Swiss National Bank bought a new stake in Roku in the second quarter valued at $13,768,000. Columbus Circle Investors bought a new stake in Roku in the second quarter valued at $5,170,000. Finally, Cypress Funds LLC increased its position in shares of Roku by 17.1% during the second quarter. Cypress Funds LLC now owns 410,000 shares of the company’s stock worth $37,138,000 after acquiring an additional 60,000 shares in the last quarter. 50.27% of the stock is currently owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Earnings History and Estimates for Roku (NASDAQ:ROKU)

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