Viacom (VIAB) Announces Earnings Results

Viacom (NASDAQ:VIAB) announced its quarterly earnings results on Thursday. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.09, Bloomberg Earnings reports. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.14 billion. Viacom had a return on equity of 28.95% and a net margin of 14.13%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS.

Shares of Viacom (NASDAQ VIAB) traded down $1.02 during mid-day trading on Friday, hitting $31.69. The company had a trading volume of 1,085,959 shares, compared to its average volume of 5,688,491. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.55 and a quick ratio of 1.30. Viacom has a 1-year low of $22.13 and a 1-year high of $46.72. The company has a market cap of $13,470.00, a P/E ratio of 6.54, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54.

Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in shares of Viacom by 2.2% in the 4th quarter. Arizona State Retirement System now owns 89,394 shares of the company’s stock valued at $2,754,000 after acquiring an additional 1,911 shares in the last quarter. Lehman Financial Resources Inc. bought a new position in shares of Viacom in the 4th quarter valued at approximately $207,000. First Allied Advisory Services Inc. raised its stake in shares of Viacom by 209.8% in the 4th quarter. First Allied Advisory Services Inc. now owns 24,370 shares of the company’s stock valued at $749,000 after acquiring an additional 16,503 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Viacom by 2,054.3% in the 4th quarter. Global X Management Co. LLC now owns 36,559 shares of the company’s stock valued at $1,126,000 after acquiring an additional 34,862 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its stake in shares of Viacom by 12.4% in the 4th quarter. Olstein Capital Management L.P. now owns 288,935 shares of the company’s stock valued at $8,902,000 after acquiring an additional 31,935 shares in the last quarter. 78.74% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on VIAB. B. Riley reiterated a “neutral” rating on shares of Viacom in a report on Wednesday, November 1st. Guggenheim reiterated a “hold” rating and set a $35.00 price target on shares of Viacom in a report on Friday. Royal Bank of Canada upgraded Viacom from an “underperform” rating to a “sector perform” rating and set a $35.00 price target for the company in a report on Friday. Pivotal Research reiterated a “hold” rating and set a $30.00 price target (up from $27.00) on shares of Viacom in a report on Tuesday, January 9th. Finally, Barclays set a $33.00 price target on Viacom and gave the company a “hold” rating in a report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the stock. Viacom has an average rating of “Hold” and a consensus price target of $35.67.

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About Viacom

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.

Earnings History for Viacom (NASDAQ:VIAB)

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