Jefferies Group Analysts Cut Earnings Estimates for Viacom Inc. (NASDAQ:VIAB)
Viacom Inc. (NASDAQ:VIAB) – Research analysts at Jefferies Group decreased their Q4 2017 earnings per share estimates for Viacom in a report issued on Thursday. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings per share of $0.87 for the quarter, down from their previous forecast of $0.98. Jefferies Group has a “Buy” rating and a $52.00 price target on the stock. Jefferies Group also issued estimates for Viacom’s Q1 2018 earnings at $0.97 EPS, Q3 2018 earnings at $1.09 EPS, Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $3.68 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $1.08 EPS, FY2019 earnings at $3.61 EPS and FY2020 earnings at $3.54 EPS.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.12. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. Viacom’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share.
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VIAB has been the topic of several other reports. Royal Bank Of Canada cut their price target on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a report on Monday, May 15th. Cowen and Company reiterated a “hold” rating and set a $41.00 price target on shares of Viacom in a report on Tuesday, July 11th. BidaskClub upgraded shares of Viacom from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Morgan Stanley reiterated an “overweight” rating on shares of Viacom in a report on Thursday, July 6th. Finally, Deutsche Bank AG downgraded shares of Viacom from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $43.13.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. Viacom’s payout ratio is 21.98%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Viacom by 15.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock worth $103,000 after buying an additional 300 shares during the last quarter. First Personal Financial Services raised its position in shares of Viacom by 5.9% in the second quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock worth $110,000 after buying an additional 182 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Viacom by 1.6% in the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after buying an additional 54 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after buying an additional 225 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its position in shares of Viacom by 12.2% in the second quarter. Delta Asset Management LLC TN now owns 4,358 shares of the company’s stock worth $146,000 after buying an additional 475 shares during the last quarter. Institutional investors and hedge funds own 77.38% 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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