ViacomCBS (NASDAQ:VIAC) Raised to Overweight at Barclays

Barclays upgraded shares of ViacomCBS (NASDAQ:VIAC) from an equal weight rating to an overweight rating in a report issued on Thursday morning, AR Network reports. Barclays currently has $36.00 target price on the stock, up from their previous target price of $22.00.

Other analysts also recently issued research reports about the stock. Needham & Company LLC raised their price target on shares of ViacomCBS from $30.00 to $36.00 and gave the company a buy rating in a report on Friday, October 9th. Goldman Sachs Group assumed coverage on shares of ViacomCBS in a report on Monday, July 13th. They issued a buy rating and a $34.00 price objective on the stock. Morgan Stanley raised their price objective on shares of ViacomCBS from $25.00 to $29.00 and gave the stock an equal weight rating in a report on Friday, August 7th. Benchmark raised their price objective on shares of ViacomCBS from $24.00 to $35.00 in a report on Friday, August 7th. Finally, Rosenblatt Securities reissued a hold rating on shares of ViacomCBS in a report on Thursday, August 6th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $31.88.

Shares of NASDAQ VIAC opened at $27.94 on Thursday. The firm’s 50-day moving average price is $28.83 and its 200-day moving average price is $23.22. 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 cap of $17.21 billion, a PE ratio of 13.63, a PEG ratio of 0.74 and a beta of 1.85. ViacomCBS has a 52-week low of $10.10 and a 52-week high of $43.04.

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

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

Institutional investors have recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC raised its position in shares of ViacomCBS by 138.3% during the third quarter. Evolution Wealth Advisors LLC now owns 896 shares of the company’s stock valued at $25,000 after buying an additional 520 shares during the last quarter. Private Capital Group LLC bought a new stake in shares of ViacomCBS during the second quarter valued at approximately $25,000. Evoke Wealth LLC bought a new stake in shares of ViacomCBS during the second quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of ViacomCBS during the second quarter valued at approximately $27,000. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of ViacomCBS during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 73.06% of the company’s stock.

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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