$6.43 Billion in Sales Expected for ViacomCBS Inc. (NASDAQ:VIAC) This Quarter

Wall Street brokerages expect ViacomCBS Inc. (NASDAQ:VIAC) to post sales of $6.43 billion for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for ViacomCBS’s earnings, with the lowest sales estimate coming in at $6.13 billion and the highest estimate coming in at $6.65 billion. ViacomCBS reported sales of $6.28 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The company is scheduled to report its next quarterly earnings report on Thursday, August 5th.

On average, analysts expect that ViacomCBS will report full-year sales of $27.84 billion for the current financial year, with estimates ranging from $27.41 billion to $28.19 billion. For the next fiscal year, analysts forecast that the company will post sales of $28.78 billion, with estimates ranging from $28.15 billion to $29.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover ViacomCBS.

ViacomCBS (NASDAQ:VIAC) last issued its earnings results on Thursday, May 6th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.30. ViacomCBS had a return on equity of 17.88% and a net margin of 10.56%. The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis.

A number of analysts recently issued reports on the company. KeyCorp decreased their price objective on ViacomCBS from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Friday, May 7th. Wolfe Research upgraded ViacomCBS from a “peer perform” rating to an “outperform” rating and reduced their target price for the stock from $80.00 to $70.00 in a research report on Wednesday, April 7th. Cowen boosted their target price on ViacomCBS from $39.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, March 1st. Macquarie upgraded ViacomCBS from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 6th. Finally, Citigroup reduced their target price on ViacomCBS from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, May 21st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.58.

Shares of NASDAQ:VIAC traded down $0.74 during midday trading on Friday, reaching $41.51. 11,904,079 shares of the company traded hands, compared to its average volume of 31,864,006. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.90. ViacomCBS has a 12 month low of $21.67 and a 12 month high of $101.97. The company has a market capitalization of $26.83 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.76 and a beta of 1.65. The business’s fifty day moving average price is $40.98.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, June 14th. ViacomCBS’s payout ratio is 22.86%.

A number of institutional investors have recently modified their holdings of VIAC. Bank of Nova Scotia increased its position in ViacomCBS by 385.7% during the 1st quarter. Bank of Nova Scotia now owns 10,084,452 shares of the company’s stock valued at $454,808,000 after purchasing an additional 8,008,319 shares during the period. Norges Bank purchased a new position in ViacomCBS during the 4th quarter valued at $274,539,000. Morgan Stanley increased its position in ViacomCBS by 19.7% during the 4th quarter. Morgan Stanley now owns 43,222,024 shares of the company’s stock valued at $1,610,451,000 after purchasing an additional 7,106,259 shares during the period. Canada Pension Plan Investment Board increased its position in ViacomCBS by 4,100.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,607,599 shares of the company’s stock valued at $298,002,000 after purchasing an additional 6,450,300 shares during the period. Finally, Bank of New York Mellon Corp increased its position in ViacomCBS by 138.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,052,991 shares of the company’s stock valued at $453,391,000 after purchasing an additional 5,842,622 shares during the period. 77.24% of the stock is currently owned by institutional investors and hedge funds.

About ViacomCBS

ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates through TV Entertainment, Cable Networks, and Filmed Entertainment segments. The TV Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24/7 cable program service that provides college sports and related content, as well as streaming and cable subscription services.

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Earnings History and Estimates for ViacomCBS (NASDAQ:VIAC)

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