Viacom Given Neutral Rating at Zacks (VIAB)
Viacom (NASDAQ:VIAB)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday. They currently have a $85.00 price target on the stock. Zacks‘s price target suggests a potential upside of 5.24% from the company’s current price.
Zacks’ analyst wrote, “Viacom reported weak financial results for the third quarter of fiscal 2014 with both the top and the bottom line missing the Zacks Consensus Estimate. Meanwhile, continuous improvement in viewership ratings, launch of network apps and renewal of the multi-platform deal with Time Warner Cable should drive both advertisement and affiliate revenues. Moreover, the successful release of “Transformer 4″ in the quarter coupled with a strong movie line-up should boost the company’s top line going ahead. We also believe that aggressive share buyback plans undertaken by the company will boost shareholders’ wealth. However, rising distribution expenses coupled with uncertainties in the movie business will remain a concern. We, thus, reiterate our long-term Neutral recommendation on Viacom. “
Viacom (NASDAQ:VIAB) traded up 0.16% during mid-day trading on Friday, hitting $80.90. The stock had a trading volume of 909,414 shares. Viacom has a 1-year low of $78.43 and a 1-year high of $89.76. The stock’s 50-day moving average is $83.19 and its 200-day moving average is $84.95. The company has a market cap of $34.223 billion and a P/E ratio of 14.88.
Viacom (NASDAQ:VIAB) last released its earnings data on Wednesday, August 6th. The company reported $1.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.44 by $0.02. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the company posted $1.21 earnings per share. Viacom’s revenue was down 7.4% compared to the same quarter last year. On average, analysts predict that Viacom will post $5.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, September 11th.
A number of other firms have also recently commented on VIAB. Analysts at Barclays reiterated an “underweight” rating on shares of Viacom in a research note on Thursday, August 21st. They now have a $83.00 price target on the stock, down previously from $84.00. Separately, analysts at Maxim Group raised their price target on shares of Viacom from $94.00 to $98.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company downgraded shares of Viacom from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.47.
Viacom Inc (NASDAQ:VIAB) 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 (apps), games, consumer products, social media and other entertainment content.
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