Investors Buy Viacom Inc. (VIAB) on Weakness on Disappointing Earnings
Investors bought shares of Viacom Inc. (NASDAQ:VIAB) on weakness during trading on Thursday following a weaker than expected earnings announcement. $89.10 million flowed into the stock on the tick-up and $75.97 million flowed out of the stock on the tick-down, for a money net flow of $13.13 million into the stock. Of all equities tracked, Viacom had the 15th highest net in-flow for the day. Viacom traded down ($0.92) for the day and closed at $23.69The company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.09). Viacom had a net margin of 11.04% and a return on equity of 30.89%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the business posted $1.54 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.25%. Viacom’s dividend payout ratio (DPR) is currently 22.10%.
VIAB has been the topic of a number of recent research reports. Cowen and Company reduced their price objective on Viacom from $41.00 to $31.00 in a research note on Tuesday, September 19th. UBS AG cut their target price on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a research note on Thursday, August 3rd. Guggenheim reissued a “buy” rating and issued a $37.00 target price (down from $40.00) on shares of Viacom in a research note on Friday, October 6th. Finally, Credit Suisse Group set a $38.00 target price on Viacom and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.85.
Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Viacom by 7.0% in the 2nd quarter. Bank of Montreal Can now owns 193,788 shares of the company’s stock worth $6,507,000 after buying an additional 12,667 shares during the period. National Pension Service lifted its stake in Viacom by 10.1% in the 2nd quarter. National Pension Service now owns 350,454 shares of the company’s stock worth $12,038,000 after purchasing an additional 32,267 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its stake in Viacom by 1.3% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 303,972 shares of the company’s stock worth $10,204,000 after purchasing an additional 3,969 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in Viacom by 510.6% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 56,563 shares of the company’s stock worth $1,899,000 after purchasing an additional 47,299 shares in the last quarter. Finally, James Investment Research Inc. purchased a new stake in Viacom in the 2nd quarter worth $1,414,000. 78.75% of the stock is owned by hedge funds and other institutional investors.
The stock has a market cap of $9,820.00, a P/E ratio of 6.65, a P/E/G ratio of 0.84 and a beta of 1.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.35 and a quick ratio of 1.11.
TRADEMARK VIOLATION NOTICE: “Investors Buy Viacom Inc. (VIAB) on Weakness on Disappointing Earnings” was published by Daily Political and is owned by of Daily Political. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://www.dailypolitical.com/2017/11/16/investors-buy-viacom-inc-viab-on-weakness-on-disappointing-earnings.html.
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
Receive News & Ratings for Viacom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.