Rentrak (RENT) has been initiated today with coverage from the research analysts at Collins Stewart. Stewart begins this new coverage of Rentrak with an initial price target set at $34, and rates performance of ‘RENT’ as “buy.” Stewart notes Renrak is situated to benefit from the ever-evolving television industry. Additionally, the firm notes that Rentrak is increasing its customer base and likewise, market share. Lastly, Stewart believes that Rentrak may be a potential buyout candidate. RENT is up during intraday trading and reached the 50-day moving average before falling into the daily range.
Rentrak is slated to release their next earnings report on and is estimated to post negative EPS of 9 cents. Their last earnings report was released on February 8th, 2011 and announced EPS of 6 cents with revenue totaling $23.7 million which was up 2.6 % year to year. RENT is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Rentrak (RENT) is an industry-advancing media measurement and research company, providing content measurement, analytical services and unique insight to the most recognizable names in the entertainment industry. The company has market capitalization of $248,000,000 and 11,058,000 shares outstanding. RENT has a 52-week high of $31.04 with the low being $19.04 dollars.
