FBR & Co Equities Analysts Lower Earnings Estimates for Viacom Inc. (VIAB)
Viacom Inc. (NASDAQ:VIAB) – Investment analysts at FBR & Co cut their Q3 2017 earnings per share estimates for shares of Viacom in a report issued on Tuesday. FBR & Co analyst B. Crockett now forecasts that the brokerage will post earnings of $1.00 per share for the quarter, down from their prior estimate of $1.10. FBR & Co has a “Mkt Perform” rating and a $44.00 price objective on the stock. FBR & Co also issued estimates for Viacom’s FY2018 earnings at $4.10 EPS.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.31 billion. Viacom had a return on equity of 36.21% and a net margin of 11.52%. Viacom’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 earnings per share.
Several other equities analysts have also recently issued reports on VIAB. Sanford C. Bernstein restated an “underperform” rating and issued a $31.00 price target on shares of Viacom in a research report on Thursday, November 10th. Brean Capital restated a “hold” rating on shares of Viacom in a research report on Friday, August 5th. Telsey Advisory Group dropped their price target on Viacom from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. Vetr upgraded Viacom from a “sell” rating to a “hold” rating and set a $42.50 price target on the stock in a research report on Tuesday, August 2nd. Finally, Wells Fargo & Co. reaffirmed an “underperform” rating and issued a $35.00 price objective on shares of Viacom in a report on Thursday, September 22nd. Two research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.18.
Viacom (NASDAQ:VIAB) opened at 38.58 on Wednesday. The firm’s 50-day moving average price is $37.13 and its 200-day moving average price is $40.58. Viacom has a 12 month low of $30.11 and a 12 month high of $52.95. The stock has a market cap of $15.31 billion, a P/E ratio of 10.67 and a beta of 1.32.
Hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its stake in shares of Viacom by 47.4% in the third quarter. Capital World Investors now owns 24,658,133 shares of the company’s stock valued at $939,475,000 after buying an additional 7,928,690 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Viacom during the third quarter valued at about $150,310,000. Jana Partners LLC purchased a new position in Viacom during the third quarter worth $105,338,000. BlackRock Fund Advisors boosted its position in Viacom by 42.7% in the second quarter. BlackRock Fund Advisors now owns 5,362,157 shares of the company’s stock worth $222,369,000 after buying an additional 1,604,976 shares during the last quarter. Finally, York Capital Management Global Advisors LLC purchased a new position in Viacom during the third quarter worth $43,272,000. Hedge funds and other institutional investors own 75.03% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.80 annualized dividend and a yield of 2.07%. Viacom’s dividend payout ratio is currently 22.10%.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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