Viacom Inc. (VIAB) Updates Q4 Earnings Guidance
Viacom Inc. (NASDAQ:VIAB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.65-0.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.90.
A number of research analysts have weighed in on the company. Royal Bank Of Canada reissued a sell rating on shares of Viacom in a report on Tuesday, May 31st. Vetr downgraded Viacom from a sell rating to a strong sell rating and set a $39.00 target price on the stock. in a report on Monday, May 30th. Wells Fargo & Co. reissued an underperform rating and issued a $35.00 target price on shares of Viacom in a report on Thursday. FBR & Co reissued a buy rating on shares of Viacom in a report on Monday, June 20th. Finally, Brean Capital reissued a hold rating on shares of Viacom in a report on Friday, August 5th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $44.28.
Viacom Inc. (NASDAQ:VIAB) opened at 35.82 on Friday. Viacom Inc. has a 52-week low of $30.11 and a 52-week high of $53.35. The stock has a 50 day moving average price of $40.37 and a 200 day moving average price of $41.43. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 6.90 and a beta of 1.43.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. The company earned $3.11 billion during the quarter, compared to analyst estimates of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 earnings per share. On average, equities analysts expect that Viacom Inc. will post $3.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 22nd will be given a $0.20 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.23%. Viacom’s payout ratio is 30.83%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pinkerton Retirement Specialists LLC acquired a new position in shares of Viacom during the second quarter valued at $131,000. Clinton Group Inc. acquired a new position in shares of Viacom during the second quarter valued at $209,000. Argent Trust Co raised its position in shares of 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 last quarter. Ingalls & Snyder LLC acquired a new position in shares of Viacom during the second quarter valued at $291,000. Finally, Meiji Yasuda Life Insurance Co raised its position in shares of Viacom by 21.9% in the second quarter. Meiji Yasuda Life Insurance Co now owns 10,130 shares of the company’s stock valued at $420,000 after buying an additional 1,820 shares during the last quarter. Institutional investors own 76.12% of the company’s stock.
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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