Zacks: Analysts Anticipate Viacom Inc. (VIAB) Will Post Quarterly Sales of $3.24 Billion
Equities research analysts predict that Viacom Inc. (NASDAQ:VIAB) will report $3.24 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Viacom’s earnings, with the highest sales estimate coming in at $3.32 billion and the lowest estimate coming in at $3.13 billion. Viacom posted sales of $3.23 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.3%. The company is scheduled to announce its next earnings results on Wednesday, November 8th.
On average, analysts expect that Viacom will report full-year sales of $3.24 billion for the current fiscal year, with estimates ranging from $13.08 billion to $13.27 billion. For the next fiscal year, analysts anticipate that the business will post sales of $13.46 billion per share, with estimates ranging from $12.93 billion to $13.75 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Viacom.
Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis.
VIAB has been the subject of several research reports. Barrington Research reaffirmed an “outperform” rating on shares of Viacom in a research report on Friday, May 19th. ValuEngine cut shares of Viacom from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $30.00 price target on shares of Viacom in a research report on Tuesday, June 6th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Viacom in a research report on Monday, June 12th. Finally, BidaskClub raised shares of Viacom from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the stock. Viacom has a consensus rating of “Hold” and a consensus price target of $42.04.
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Viacom (VIAB) opened at 27.39 on Friday. The stock’s 50 day moving average is $29.97 and its 200 day moving average is $36.63. Viacom has a 12-month low of $26.65 and a 12-month high of $46.72. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 7.54 and a beta of 1.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.92%. Viacom’s payout ratio is currently 21.98%.
Several large investors have recently added to or reduced their stakes in VIAB. BlackRock Inc. increased its stake in shares of Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock worth $1,001,671,000 after acquiring an additional 20,807,733 shares during the period. Wellington Management Group LLP increased its stake in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after acquiring an additional 19,603,597 shares during the period. Vanguard Group Inc. increased its stake in shares of Viacom by 28.9% in the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock worth $972,330,000 after acquiring an additional 6,496,269 shares during the period. Oldfield Partners LLP acquired a new stake in shares of Viacom in the second quarter worth $153,511,000. Finally, Steadfast Capital Management LP acquired a new stake in shares of Viacom in the second quarter worth $117,707,000. Hedge funds and other institutional investors own 79.17% 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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