Viacom (NASDAQ:VIAB)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday, AR Network reports. They currently have a $84.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 5.75% from the stock’s previous close.
Zacks‘ analyst wrote, “Viacom reported mixed financial results for the third quarter of fiscal 2013. While the net income missed the Zacks Consensus Estimate, revenues surpassed the same. Continuous improvement in viewership ratings and hit movie releases have driven both theatrical and advertisement revenues. Moreover, increased investments to expand the company’s networks and content, along with new deals with video streaming companies may bolster Viacom’s top-line growth, going forward. However, we believe that the massive share buyback plan will not only boost shareholders’ wealth, but at the same time, will put pressure on the company’s leverage. Meanwhile, the stock price has soared nearly 64% in the last year and is currently trading at the high-end of its 52-week price range. We believe Viacom is currently fairly valued and thus, reiterate our long-term Neutral recommendation. “
Viacom (NASDAQ:VIAB) opened at 79.43 on Friday. Viacom has a 1-year low of $47.61 and a 1-year high of $80.93. The stock’s 50-day moving average is $75.23 and its 200-day moving average is $67.16. The company has a market cap of $37.882 billion and a price-to-earnings ratio of 17.91.
Viacom (NASDAQ:VIAB) last announced its earnings results on Friday, August 2nd. The company reported $1.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.29. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts predict that Viacom will post $4.61 earnings per share for the current fiscal year.
VIAB has been the subject of a number of other recent research reports. Analysts at UBS AG reiterated a “hold” rating on shares of Viacom in a research note to investors on Thursday. They now have a $79.00 price target on the stock. Separately, analysts at Telsey Advisory Group cut their price target on shares of Viacom from $95.00 to $92.00 in a research note to investors on Thursday. They now have a “not rated” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Viacom in a research note to investors on Monday, August 5th. They now have a $93.00 price target on the stock, up previously from $86.00.
Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.83.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, September 11th.
Viacom Inc (NASDAQ:VIAB) is an entertainment content company that connects with audiences through compelling content across television, motion picture, online and mobile platforms in over 160 countries and territories.
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