FBR & Co Analysts Lower Earnings Estimates for Viacom Inc. (VIAB)
Viacom Inc. (NASDAQ:VIAB) – Research analysts at FBR & Co cut their FY2017 EPS estimates for shares of Viacom in a note issued to investors on Tuesday. FBR & Co analyst B. Crockett now forecasts that the company will post earnings of $3.92 per share for the year, down from their previous forecast of $3.94. FBR & Co also issued estimates for Viacom’s FY2019 earnings at $4.11 EPS and FY2020 earnings at $4.13 EPS.
Several other brokerages have also issued reports on VIAB. Zacks Investment Research raised Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, July 13th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $40.00 price objective on shares of Viacom in a report on Tuesday, September 26th. Barclays PLC set a $37.00 price objective on Viacom and gave the stock an “equal weight” rating in a report on Friday, August 4th. Wells Fargo & Company lowered Viacom from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 5th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $43.00 price target (down previously from $52.00) on shares of Viacom in a report on Wednesday, August 9th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $38.96.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS.
Several hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new position in shares of Viacom during the 2nd quarter worth approximately $108,000. First Personal Financial Services raised its position in shares of Viacom by 5.9% during the 2nd quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock worth $110,000 after purchasing an additional 182 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Viacom by 1.6% during the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after purchasing an additional 54 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Viacom by 13.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock worth $124,000 after purchasing an additional 423 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its position in shares of Viacom by 12.2% during the 2nd quarter. Delta Asset Management LLC TN now owns 4,358 shares of the company’s stock worth $146,000 after purchasing an additional 475 shares during the last quarter. Institutional investors own 79.11% of the company’s stock.
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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