$3.23 Billion in Sales Expected for Viacom Inc. (VIAB) This Quarter
Equities analysts predict that Viacom Inc. (NASDAQ:VIAB) will post sales of $3.23 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Viacom’s earnings, with the lowest sales estimate coming in at $3.13 billion and the highest estimate coming in at $3.32 billion. Viacom also posted sales of $3.23 billion during the same quarter last year. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 16th.
According to Zacks, analysts expect that Viacom will report full-year sales of $3.23 billion for the current financial year, with estimates ranging from $13.08 billion to $13.26 billion. For the next financial year, analysts expect that the business will post sales of $13.37 billion per share, with estimates ranging from $12.89 billion to $13.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Viacom.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm posted $1.05 EPS. Viacom’s quarterly revenue was up 8.3% on a year-over-year basis.
VIAB has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Viacom from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 13th. Zacks Investment Research downgraded Viacom from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 3rd. UBS AG lowered their price objective on Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Guggenheim restated a “buy” rating and set a $37.00 price objective (down from $40.00) on shares of Viacom in a research note on Friday, October 6th. Finally, Jefferies Group LLC restated a “buy” rating and set a $52.00 price objective on shares of Viacom in a research note on Thursday, August 3rd. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.54.
Viacom (NASDAQ:VIAB) opened at 26.70 on Friday. Viacom has a 52-week low of $23.45 and a 52-week high of $46.72. The company has a 50-day moving average of $27.10 and a 200-day moving average of $33.51. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 7.35 and a beta of 1.57.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, September 14th. Viacom’s dividend payout ratio is 21.98%.
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Several hedge funds and other institutional investors have recently made changes to their positions in VIAB. Vanguard Group Inc. lifted its holdings in shares of Viacom by 28.9% during the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock valued at $972,330,000 after purchasing an additional 6,496,269 shares during the last quarter. Oldfield Partners LLP purchased a new stake in shares of Viacom during the second quarter valued at $153,511,000. Steadfast Capital Management LP purchased a new stake in shares of Viacom during the second quarter valued at $117,707,000. Prudential Financial Inc. lifted its holdings in shares of Viacom by 167.2% during the second quarter. Prudential Financial Inc. now owns 3,888,900 shares of the company’s stock valued at $130,551,000 after purchasing an additional 2,433,220 shares during the last quarter. Finally, Scopus Asset Management L.P. purchased a new stake in shares of Viacom during the first quarter valued at $81,585,000. 79.17% of the stock is owned by institutional investors and hedge funds.
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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