Brokers Set Expectations for Viacom Inc.’s FY2016 Earnings (VIAB)
Viacom Inc. (NASDAQ:VIAB) – Equities researchers at Jefferies Group reduced their FY2016 earnings estimates for shares of Viacom in a research note issued on Wednesday. Jefferies Group analyst J. Janedis now expects that the firm will post earnings of $3.64 per share for the year, down from their previous estimate of $3.88. Jefferies Group has a “Buy” rating and a $49.00 price objective on the stock. Jefferies Group also issued estimates for Viacom’s Q1 2017 earnings at $1.06 EPS, Q2 2017 earnings at $0.74 EPS, Q3 2017 earnings at $1.11 EPS, FY2017 earnings at $3.66 EPS, Q1 2018 earnings at $1.10 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $1.16 EPS and FY2018 earnings at $3.82 EPS.
Other equities analysts also recently issued research reports about the company. Credit Suisse Group AG cut their target price on Viacom from $53.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday. FBR & Co reaffirmed a “buy” rating on shares of Viacom in a report on Thursday. Brean Capital reaffirmed a “buy” rating and set a $44.00 price target on shares of Viacom in a report on Thursday. Vetr cut Viacom from a “buy” rating to a “hold” rating and set a $44.78 price target for the company. in a report on Wednesday, August 17th. Finally, Nomura began coverage on Viacom in a report on Wednesday, June 22nd. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.59.
Shares of Viacom (NASDAQ:VIAB) traded down 0.19% during mid-day trading on Thursday, hitting $35.98. The stock had a trading volume of 1,562,563 shares. Viacom has a 12-month low of $30.11 and a 12-month high of $53.35. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 6.93 and a beta of 1.43. The firm’s 50-day moving average price is $40.60 and its 200 day moving average price is $41.47.
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Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The business 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 company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, September 22nd. Viacom’s dividend payout ratio (DPR) is presently 30.83%.
A number of institutional investors have recently made changes to their positions in VIAB. Royal Bank of Canada increased its position in shares of Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock worth $44,362,000 after buying an additional 548,080 shares during the period. Legal & General Group Plc increased its position in shares of Viacom by 2.8% in the first quarter. Legal & General Group Plc now owns 1,555,673 shares of the company’s stock worth $64,209,000 after buying an additional 42,350 shares during the period. Nuveen Asset Management LLC increased its position in shares of Viacom by 120.5% in the first quarter. Nuveen Asset Management LLC now owns 728,866 shares of the company’s stock worth $30,087,000 after buying an additional 398,300 shares during the period. Geode Capital Management LLC increased its position in shares of Viacom by 0.5% in the first quarter. Geode Capital Management LLC now owns 2,908,135 shares of the company’s stock worth $119,812,000 after buying an additional 14,321 shares during the period. Finally, AlphaOne Investment Services LLC increased its position in shares of Viacom by 113.0% in the first quarter. AlphaOne Investment Services LLC now owns 82,000 shares of the company’s stock worth $3,385,000 after buying an additional 43,500 shares during the period. 76.12% of the stock is currently owned by hedge funds and other institutional investors.
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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