Viacom Inc. (NASDAQ:VIAB) – Equities researchers at Gabelli cut their FY2017 EPS estimates for shares of Viacom in a research note issued to investors on Friday. Gabelli analyst B. Harriss now forecasts that the firm will post earnings of $4.05 per share for the year, down from their prior forecast of $4.20. Gabelli also issued estimates for Viacom’s FY2018 earnings at $4.40 EPS, FY2019 earnings at $4.65 EPS, FY2020 earnings at $4.85 EPS and FY2021 earnings at $5.05 EPS.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, February 9th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.20. Viacom had a return on equity of 33.25% and a net margin of 10.94%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: This piece was originally reported by sleekmoney and is the property of of sleekmoney. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece can be read at http://sleekmoney.com/gabelli-comments-on-viacom-inc-s-fy2017-earnings-viab/1657479.html.
VIAB has been the topic of several other research reports. Brean Capital cut Viacom from a “buy” rating to a “hold” rating and dropped their target price for the stock from $44.00 to $40.00 in a report on Wednesday, November 30th. Telsey Advisory Group dropped their target price on Viacom from $47.00 to $42.00 and set a “market perform” rating on the stock in a report on Thursday, November 10th. Bank of America Corporation boosted their target price on Viacom from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Friday. Wedbush reissued an “outperform” rating and set a $46.00 target price on shares of Viacom in a report on Thursday, November 10th. Finally, Barclays PLC cut Viacom from an “overweight” rating to an “equal weight” rating and set a $45.00 target price on the stock. in a report on Friday. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.73.
Viacom (NASDAQ:VIAB) opened at 43.65 on Monday. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 12.53 and a beta of 1.33. The firm’s 50 day moving average price is $39.55 and its 200-day moving average price is $38.77. Viacom has a 52 week low of $33.51 and a 52 week high of $46.69.
A number of hedge funds have recently bought and sold shares of VIAB. Symons Capital Management Inc. acquired a new stake in Viacom during the second quarter worth $15,741,000. Cornerstone Financial Partners LLC boosted its stake in Viacom by 10.3% in the second quarter. Cornerstone Financial Partners LLC now owns 86,343 shares of the company’s stock worth $3,595,000 after buying an additional 8,039 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in Viacom during the second quarter worth $622,000. State of New Jersey Common Pension Fund D boosted its stake in Viacom by 34.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 980,000 shares of the company’s stock worth $40,641,000 after buying an additional 250,000 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC acquired a new stake in Viacom during the second quarter worth $5,919,000. 77.10% of the stock is currently owned by institutional investors and hedge funds.
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In other Viacom news, Director Ronald L. Nelson bought 20,000 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were acquired at an average price of $34.80 per share, with a total value of $696,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $696,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. Viacom’s payout ratio is currently 22.92%.
Viacom Company Profile
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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