Viacom Inc. to Post FY2018 Earnings of $5.00 Per Share, Gabelli Forecasts (VIAB)
Viacom Inc. (NASDAQ:VIAB) – Analysts at Gabelli upped their FY2018 earnings estimates for shares of Viacom in a note issued to investors on Monday. Gabelli analyst B. Harriss now expects that the company will earn $5.00 per share for the year, up from their previous estimate of $4.35. Gabelli also issued estimates for Viacom’s FY2019 earnings at $5.05 EPS and FY2021 earnings at $5.25 EPS.
Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.20. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.03 billion. Viacom had a net margin of 9.32% and a return on equity of 32.00%. Viacom’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. ILLEGAL ACTIVITY WARNING: “Viacom Inc. to Post FY2018 Earnings of $5.00 Per Share, Gabelli Forecasts (VIAB)” was first posted by Financial Market News and is the property of of Financial Market News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.financial-market-news.com/2017/06/17/viacom-inc-to-post-fy2018-earnings-of-5-00-per-share-gabelli-forecasts-viab.html.
Several other equities analysts also recently issued reports on the stock. Sanford C. Bernstein reissued an “underperform” rating and set a $29.00 price target on shares of Viacom in a report on Friday. BidaskClub raised shares of Viacom from a “strong sell” rating to a “sell” rating in a report on Tuesday. J P Morgan Chase & Co reissued an “overweight” rating and set a $48.00 price target on shares of Viacom in a report on Monday, June 12th. Royal Bank Of Canada reissued a “sell” rating and set a $30.00 price target on shares of Viacom in a report on Tuesday, June 6th. Finally, ValuEngine downgraded shares of Viacom from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $43.38.
Shares of Viacom (VIAB) opened at 35.07 on Thursday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 11.59 and a beta of 1.53. The company’s 50-day moving average is $35.84 and its 200 day moving average is $39.83. Viacom has a 1-year low of $33.44 and a 1-year high of $46.72.
A number of hedge funds and other institutional investors have recently modified their holdings of VIAB. Renaissance Technologies LLC boosted its position in shares of Viacom by 2,489.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,147,000 shares of the company’s stock worth $40,260,000 after buying an additional 1,102,700 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock worth $335,000 after buying an additional 53 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in shares of Viacom by 4.3% in the fourth quarter. United Capital Financial Advisers LLC now owns 38,420 shares of the company’s stock worth $1,349,000 after buying an additional 1,575 shares in the last quarter. Korea Investment CORP boosted its position in shares of Viacom by 43.9% in the first quarter. Korea Investment CORP now owns 209,932 shares of the company’s stock worth $9,787,000 after buying an additional 64,022 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock worth $149,000 after buying an additional 1,425 shares in the last quarter. Hedge funds and other institutional investors own 77.13% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Tuesday, June 13th. Viacom’s dividend payout ratio is currently 26.40%.
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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