Viacom Inc. (VIAB) Updates Q4 Earnings Guidance
Viacom Inc. (NASDAQ:VIAB) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.65-0.70 for the period, compared to the Thomson Reuters consensus estimate of $0.90.
Viacom Inc. (NASDAQ:VIAB) opened at 35.82 on Friday. The stock’s 50 day moving average price is $40.37 and its 200 day moving average price is $41.43. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 6.90 and a beta of 1.43. Viacom Inc. has a 52-week low of $30.11 and a 52-week high of $53.35.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.04. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The company earned $3.11 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm earned $1.47 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts forecast that Viacom Inc. will post $3.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Viacom’s payout ratio is 30.83%.
A number of research firms have recently issued reports on VIAB. Brean Capital reiterated a hold rating on shares of Viacom in a research report on Thursday, September 8th. Vetr upgraded Viacom from a sell rating to a hold rating and set a $42.50 price objective for the company in a research report on Tuesday, August 2nd. Jefferies Group restated a buy rating on shares of Viacom in a research report on Thursday, August 11th. Wunderlich restated a buy rating on shares of Viacom in a research report on Sunday, July 10th. Finally, Wedbush cut their price objective on Viacom from $46.00 to $44.00 and set a neutral rating for the company in a research report on Thursday, July 7th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have given a buy rating to the stock. Viacom presently has an average rating of Hold and a consensus target price of $44.28.
Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Viacom by 2.4% in the second quarter. American Century Companies Inc. now owns 2,129,479 shares of the company’s stock valued at $88,309,000 after buying an additional 50,342 shares during the period. Argent Trust Co boosted its position in Viacom by 5.9% in the second quarter. Argent Trust Co now owns 6,576 shares of the company’s stock valued at $273,000 after buying an additional 364 shares during the period. BlackRock Investment Management LLC boosted its position in Viacom by 1.8% in the second quarter. BlackRock Investment Management LLC now owns 724,838 shares of the company’s stock valued at $30,059,000 after buying an additional 12,595 shares during the period. BlackRock Fund Advisors boosted its position in Viacom by 42.7% in the second quarter. BlackRock Fund Advisors now owns 5,362,157 shares of the company’s stock valued at $222,369,000 after buying an additional 1,604,976 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in Viacom by 2.2% in the second quarter. Ameritas Investment Partners Inc. now owns 13,106 shares of the company’s stock valued at $543,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 76.12% of the company’s stock.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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