Gabelli Analysts Boost Earnings Estimates for Viacom, Inc. (VIAB)
Viacom, Inc. (NASDAQ:VIAB) – Investment analysts at Gabelli upped their FY2019 earnings per share estimates for shares of Viacom in a report issued on Wednesday, February 6th. Gabelli analyst B. Harriss now forecasts that the company will post earnings per share of $4.25 for the year, up from their previous estimate of $4.20. Gabelli also issued estimates for Viacom’s FY2020 earnings at $4.65 EPS, FY2021 earnings at $5.15 EPS and FY2022 earnings at $5.45 EPS.
A number of other brokerages have also recently weighed in on VIAB. BidaskClub raised shares of Viacom from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. ValuEngine raised shares of Viacom from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Barrington Research reaffirmed a “hold” rating on shares of Viacom in a research report on Monday, November 19th. Goldman Sachs Group began coverage on shares of Viacom in a research report on Thursday, November 29th. They set a “neutral” rating and a $34.00 price target for the company. Finally, Citigroup upped their price target on shares of Viacom from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.68.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. Viacom had a net margin of 11.60% and a return on equity of 23.34%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up .6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. Viacom’s dividend payout ratio is currently 19.42%.
A number of hedge funds have recently modified their holdings of VIAB. Pearl River Capital LLC acquired a new stake in shares of Viacom in the 4th quarter valued at about $26,000. CWM LLC raised its stake in shares of Viacom by 507.6% in the 4th quarter. CWM LLC now owns 1,197 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Clarus Wealth Advisors raised its stake in shares of Viacom by 3,279.5% in the 4th quarter. Clarus Wealth Advisors now owns 1,487 shares of the company’s stock valued at $38,000 after purchasing an additional 1,443 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of Viacom by 1,686.7% in the 4th quarter. Dubuque Bank & Trust Co. now owns 1,876 shares of the company’s stock valued at $49,000 after purchasing an additional 1,771 shares in the last quarter. Finally, We Are One Seven LLC acquired a new stake in shares of Viacom in the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 78.92% of the company’s stock.
Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
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