Viacom, Inc. (NASDAQ:VIAB) – KeyCorp cut their Q2 2019 earnings per share estimates for Viacom in a report issued on Wednesday, May 8th. KeyCorp analyst E. Wingren now expects that the company will post earnings of $0.80 per share for the quarter, down from their prior forecast of $0.88. KeyCorp also issued estimates for Viacom’s FY2020 earnings at $4.34 EPS.
A number of other research firms have also recently weighed in on VIAB. Zacks Investment Research upgraded shares of Viacom from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. BidaskClub cut shares of Viacom from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 14th. Barrington Research reaffirmed a “buy” rating and set a $35.00 target price on shares of Viacom in a report on Tuesday, February 5th. Pivotal Research raised shares of Viacom from a “hold” rating to a “buy” rating and upped their target price for the stock from $33.00 to $36.00 in a report on Tuesday, January 15th. Finally, Royal Bank of Canada raised shares of Viacom from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $31.00 to $36.00 in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.57.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Friday, May 10th. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.15. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Viacom had a net margin of 11.60% and a return on equity of 23.34%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the stock. TCW Group Inc. boosted its stake in Viacom by 66.4% during the first quarter. TCW Group Inc. now owns 54,758 shares of the company’s stock worth $1,537,000 after buying an additional 21,853 shares during the period. Hancock Whitney Corp boosted its stake in Viacom by 25.9% during the first quarter. Hancock Whitney Corp now owns 371,471 shares of the company’s stock worth $10,427,000 after buying an additional 76,535 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Viacom by 11.1% during the first quarter. The Manufacturers Life Insurance Company now owns 369,258 shares of the company’s stock worth $10,365,000 after buying an additional 36,987 shares during the period. Round Hill Asset Management boosted its stake in Viacom by 3.6% during the first quarter. Round Hill Asset Management now owns 38,432 shares of the company’s stock worth $1,079,000 after buying an additional 1,335 shares during the period. Finally, Northern Trust Corp boosted its stake in Viacom by 5.0% during the first quarter. Northern Trust Corp now owns 5,660,726 shares of the company’s stock worth $158,897,000 after buying an additional 271,721 shares during the period. 80.85% of the stock is owned by hedge funds and other institutional investors.
Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
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