Zacks: Analysts Anticipate Viacom, Inc. (VIAB) Will Post Quarterly Sales of $3.32 Billion
Brokerages expect that Viacom, Inc. (NASDAQ:VIAB) will announce sales of $3.32 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Viacom’s earnings. The lowest sales estimate is $3.21 billion and the highest is $3.46 billion. Viacom reported sales of $3.11 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The business is expected to announce its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Viacom will report full-year sales of $3.32 billion for the current financial year, with estimates ranging from $13.04 billion to $13.6 billion. For the next financial year, analysts expect that the firm will report sales of $13.59 billion per share, with estimates ranging from $13.31 billion to $14.11 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Viacom.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, May 4th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. Viacom had a net margin of 10.94% and a return on equity of 33.25%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year.
Several analysts have recently weighed in on the company. Barrington Research restated an “outperform” rating on shares of Viacom in a report on Friday, May 19th. Royal Bank of Canada dropped their price target on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research note on Monday, May 15th. BMO Capital Markets dropped their price target on Viacom from $44.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, May 15th. Deutsche Bank AG lowered Viacom from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $40.00 target price on shares of Viacom in a research report on Sunday, April 23rd. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.95.
Shares of Viacom (NASDAQ:VIAB) opened at 35.13 on Friday. Viacom has a one year low of $33.44 and a one year high of $46.72. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 11.61 and a beta of 1.33. The firm’s 50-day moving average is $39.34 and its 200-day moving average is $40.10.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.28%. Viacom’s dividend payout ratio (DPR) is currently 22.92%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in VIAB. Public Employees Retirement System of Ohio boosted its position in shares of Viacom by 19.6% in the first quarter. Public Employees Retirement System of Ohio now owns 185,326 shares of the company’s stock valued at $8,640,000 after buying an additional 30,325 shares during the period. Achmea Investment Management B.V. purchased a new position in shares of Viacom during the first quarter valued at about $5,656,000. Bank of Nova Scotia boosted its position in shares of Viacom by 934.0% in the first quarter. Bank of Nova Scotia now owns 79,868 shares of the company’s stock valued at $3,724,000 after buying an additional 72,144 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Viacom by 4.7% in the first quarter. Point72 Asset Management L.P. now owns 1,541,917 shares of the company’s stock valued at $71,884,000 after buying an additional 69,117 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Viacom by 23.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,222 shares of the company’s stock valued at $430,000 after buying an additional 1,722 shares during the period. 76.82% of the stock is currently owned by institutional investors.
Viacom Company Profile
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.
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