$3.32 Billion in Sales Expected for Viacom Inc. (VIAB) This Quarter
Wall Street brokerages expect Viacom Inc. (NASDAQ:VIAB) to announce sales of $3.32 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Viacom’s earnings, with the highest sales estimate coming in at $3.46 billion and the lowest estimate coming in at $3.21 billion. Viacom reported sales of $3.11 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The firm is expected to report its next earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Viacom will report full-year sales of $3.32 billion for the current fiscal year, with estimates ranging from $13.04 billion to $13.60 billion. For the next fiscal year, analysts forecast 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 calculations are a mean average based on a survey of sell-side analysts that follow Viacom.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.20. Viacom had a net margin of 9.32% and a return on equity of 32.00%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year.
Several research analysts have recently commented on VIAB shares. Jefferies Group LLC restated a “buy” rating and set a $52.00 price target on shares of Viacom in a research note on Saturday, March 11th. J P Morgan Chase & Co restated an “overweight” rating and set a $48.00 price target on shares of Viacom in a research note on Monday, June 12th. Rosenblatt Securities began coverage on shares of Viacom in a report on Wednesday, April 5th. They set a “neutral” rating and a $45.00 price objective for the company. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $29.00 price objective on shares of Viacom in a report on Friday, June 16th. Finally, Barrington Research reaffirmed an “outperform” rating on shares of Viacom in a report on Friday, May 19th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $43.23.
Shares of Viacom (NASDAQ VIAB) traded up 0.47% during trading on Friday, reaching $34.28. 1,229,347 shares of the company’s stock were exchanged. Viacom has a 52-week low of $33.44 and a 52-week high of $46.72. The company has a 50 day moving average of $35.40 and a 200 day moving average of $39.84. The firm has a market capitalization of $13.77 billion, a P/E ratio of 11.33 and a beta of 1.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 13th. Viacom’s dividend payout ratio is 26.40%.
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Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of Viacom during the fourth quarter worth about $6,567,000. Comerica Bank boosted its position in shares of Viacom by 0.5% in the fourth quarter. Comerica Bank now owns 104,863 shares of the company’s stock worth $4,058,000 after buying an additional 496 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Viacom by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the company’s stock worth $699,000 after buying an additional 83 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Viacom by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,123,825 shares of the company’s stock worth $74,549,000 after buying an additional 145,257 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Viacom by 8.8% in the fourth quarter. FMR LLC now owns 6,843,184 shares of the company’s stock worth $240,196,000 after buying an additional 553,609 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.
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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