$3.32 Billion in Sales Expected for Viacom Inc. (VIAB) This Quarter
Analysts expect Viacom Inc. (NASDAQ:VIAB) to post sales of $3.32 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Viacom’s earnings, with estimates ranging from $3.21 billion to $3.46 billion. Viacom posted sales of $3.11 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The business is expected to issue its next earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Viacom will report full-year sales of $3.32 billion for the current year, with estimates ranging from $13.04 billion to $13.60 billion. For the next fiscal year, analysts forecast that the company will report sales of $13.60 billion per share, with estimates ranging from $13.31 billion to $14.11 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Viacom.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.20. Viacom had a return on equity of 32.00% and a net margin of 9.32%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year.
A number of research analysts recently commented on VIAB shares. Guggenheim reissued a “buy” rating and issued a $50.00 target price on shares of Viacom in a research note on Wednesday, March 22nd. Rosenblatt Securities started coverage on Viacom in a research note on Wednesday, April 5th. They issued a “neutral” rating and a $45.00 target price on the stock. FBR & Co increased their target price on Viacom from $45.00 to $48.00 and gave the company a “mkt perform” rating in a research note on Monday, April 10th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a research note on Monday, April 17th. Finally, Pivotal Research reissued a “hold” rating and issued a $40.00 target price on shares of Viacom in a research note on Sunday, April 23rd. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $43.14.
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Viacom (NASDAQ VIAB) traded up 0.345% during midday trading on Thursday, hitting $36.325. The company had a trading volume of 2,553,445 shares. The firm’s 50 day moving average is $34.75 and its 200-day moving average is $39.62. Viacom has a 52 week low of $32.68 and a 52 week high of $46.72. The firm has a market capitalization of $14.59 billion, a P/E ratio of 12.008 and a beta of 1.57.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.21%. Viacom’s payout ratio is 26.40%.
Institutional investors have recently modified their holdings of the stock. Wetherby Asset Management Inc. increased its position in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock valued at $335,000 after buying an additional 53 shares during the last quarter. Cleararc Capital Inc. increased its position in shares of Viacom by 0.9% in the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock valued at $396,000 after buying an additional 72 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Viacom by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock valued at $549,000 after buying an additional 76 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Viacom by 0.5% in the first quarter. Suntrust Banks Inc. now owns 21,318 shares of the company’s stock valued at $991,000 after buying an additional 106 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its position in shares of Viacom by 0.7% in the first quarter. Great Lakes Advisors LLC now owns 16,983 shares of the company’s stock valued at $792,000 after buying an additional 112 shares during the last quarter. Institutional investors own 76.62% of the company’s stock.
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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