Equities analysts forecast that Viacom Inc. (NASDAQ:VIAB) will announce $3.24 billion in sales for the current quarter, Zacks reports. Six analysts have provided 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 posted sales of $3.23 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Viacom will report full-year sales of $3.24 billion for the current financial year, with estimates ranging from $13.08 billion to $13.27 billion. For the next fiscal year, analysts expect that the company will report sales of $13.46 billion per share, with estimates ranging from $12.93 billion to $13.75 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Viacom.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 EPS.
Several equities analysts have commented on the company. BidaskClub downgraded Viacom from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada cut their price objective on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Friday, May 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Viacom in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG downgraded Viacom from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.04.
Viacom (NASDAQ VIAB) opened at 29.19 on Friday. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $38.09. Viacom has a 12 month low of $27.86 and a 12 month high of $46.72. The firm has a market cap of $11.74 billion, a P/E ratio of 8.03 and a beta of 1.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, September 14th. Viacom’s payout ratio is currently 21.98%.
A number of hedge funds have recently modified their holdings of VIAB. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Viacom by 10.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 29,024 shares of the company’s stock valued at $1,353,000 after buying an additional 2,700 shares during the last quarter. Wetherby Asset Management Inc. increased its position in 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 period. Essex Investment Management Co. LLC purchased a new position in Viacom during the first quarter valued at $219,000. Decatur Capital Management Inc. purchased a new position in Viacom during the first quarter valued at $10,379,000. Finally, WealthTrust Axiom LLC purchased a new position in Viacom during the first quarter valued at $251,000. 77.96% of the stock is currently owned by institutional investors.
About Viacom
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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