ViacomCBS (NASDAQ:VIAC) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of ViacomCBS (NASDAQ:VIAC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Several other equities research analysts also recently issued reports on the company. Macquarie boosted their price objective on ViacomCBS from $18.00 to $26.00 and gave the company a neutral rating in a report on Friday, June 19th. Goldman Sachs Group started coverage on ViacomCBS in a report on Monday, July 13th. They issued a buy rating and a $34.00 price objective on the stock. Benchmark boosted their price objective on ViacomCBS from $24.00 to $35.00 in a report on Friday, August 7th. Zacks Investment Research upgraded ViacomCBS from a sell rating to a hold rating and set a $25.00 price objective on the stock in a report on Thursday, July 16th. Finally, BofA Securities downgraded ViacomCBS from a buy rating to a neutral rating and set a $25.00 price objective on the stock. in a report on Monday, July 13th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company. ViacomCBS currently has an average rating of Hold and a consensus target price of $31.88.

NASDAQ:VIAC opened at $27.94 on Wednesday. ViacomCBS has a 52 week low of $10.10 and a 52 week high of $43.04. The company has a quick ratio of 1.33, a current ratio of 1.56 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $17.21 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.74 and a beta of 1.85. The stock’s fifty day moving average is $28.83 and its two-hundred day moving average is $23.22.

ViacomCBS (NASDAQ:VIAC) last posted its earnings results on Thursday, August 6th. The company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.33. ViacomCBS had a return on equity of 20.89% and a net margin of 4.58%. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. Sell-side analysts anticipate that ViacomCBS will post 4.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.44%. ViacomCBS’s payout ratio is currently 19.16%.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new stake in ViacomCBS during the second quarter worth approximately $1,432,855,000. FMR LLC acquired a new position in shares of ViacomCBS in the 2nd quarter valued at $259,580,000. Charles Schwab Investment Management Inc. acquired a new position in shares of ViacomCBS in the 2nd quarter valued at $169,437,000. LSV Asset Management acquired a new position in shares of ViacomCBS in the 2nd quarter valued at $125,249,000. Finally, Prudential Financial Inc. acquired a new position in shares of ViacomCBS in the 2nd quarter valued at $111,454,000. 73.06% of the stock is currently owned by institutional investors.

About ViacomCBS

ViacomCBS Inc operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.

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Analyst Recommendations for ViacomCBS (NASDAQ:VIAC)

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