Viacom Inc. (VIAB) Shares Gap Down on Disappointing Earnings
Viacom Inc. (NASDAQ:VIAB) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $27.00, but opened at $24.61. Viacom shares last traded at $23.69, with a volume of 17799400 shares trading hands.
The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.09). The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.23 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, December 14th. Viacom’s dividend payout ratio (DPR) is currently 17.17%.
VIAB has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Viacom from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of Viacom from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 3rd. UBS AG cut their price target on shares of Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Guggenheim reiterated a “buy” rating and issued a $37.00 price target (down previously from $40.00) on shares of Viacom in a research note on Friday, October 6th. Finally, Credit Suisse Group set a $38.00 price target on shares of Viacom and gave the company a “buy” rating in a research note on Wednesday, November 1st. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.96.
A number of institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. increased its holdings in Viacom by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after buying an additional 54 shares during the period. Wall Street Access Asset Management LLC increased its holdings in Viacom by 1.1% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock valued at $212,000 after buying an additional 70 shares during the period. Boston Private Wealth LLC increased its holdings in Viacom by 1.8% in the 2nd quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock valued at $205,000 after buying an additional 108 shares during the period. Moors & Cabot Inc. increased its holdings in Viacom by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 20,990 shares of the company’s stock valued at $703,000 after buying an additional 149 shares during the period. Finally, Capital Guardian Trust Co. increased its holdings in Viacom by 2.7% in the 2nd quarter. Capital Guardian Trust Co. now owns 6,460 shares of the company’s stock valued at $217,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 78.75% of the company’s stock.
The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.11 and a current ratio of 1.35. The company has a market cap of $10,870.00, a price-to-earnings ratio of 6.65, a P/E/G ratio of 0.84 and a beta of 1.53.
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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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