Viacom Inc. (NASDAQ:VIAB) Expected To Report Earnings On Thursday

Xavier Trudeau
Août 4, 2017

Janus Capital Management LLC decreased its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 26.9% during the first quarter, according to its most recent filing with the SEC. During its last trading session, Stock traded with the total exchanged volume of 5.85 million shares. Institutional investors and hedge funds own 77.33% of the company's stock. Schwab Charles Investment Management Inc. now owns 1,434,293 shares of the company's stock worth $66,867,000 after buying an additional 101,737 shares during the last quarter. FMR LLC increased its position in shares of Viacom by 36.1% in the first quarter. SOL Capital Management CO increased its position in Viacom by 3.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,752,876 shares of the company's stock valued at $221,579,000 after buying an additional 900,264 shares during the last quarter.

Commenting on the results, CEO Bob Bakish said, "In the third quarter, Viacom strengthened its top line, with growth in advertising and affiliate revenues and gains across its Filmed Entertainment segment, while continuing to execute on a strategic plan to reinvigorate our brands, break down silos, deepen our relationships with business partners and reposition Paramount for the future".

Viacom Inc, the owner of MTV, Comedy Central and Paramount, posted better-than expected quarterly revenue and profit as higher affiliate revenue offset continued declines in USA advertising revenue. (NASDAQ:VIAB) opened at 34.09 on Thursday. (VIAB)'s latest closing price was -9.68% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 0.15% and 0.53% compared with the 20 Day Moving Average.

News stories about Viacom (NASDAQ:VIAB) have been trending somewhat positive recently, Accern Sentiment Analysis reports. (VIA) rose almost 4% in after-hours trade, following a strong fiscal third-quarter earnings report. Viacom had a return on equity of 32.00% and a net margin of 9.32%.

Revenue rose 8.3 percent to $3.36 billion, beating analysts' expectation of $3.29 billion.

They expect $1.05 EPS, up 0% or $0 from last year's $1.05 per share. Likewise, the negative performance for the quarter was recorded as -13.17% and for the year was -21.90%, while the YTD performance remained at -2.88%.

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A number of equities research analysts have recently issued reports on the stock. Jefferies Group LLC reiterated a "buy" rating and issued a $52.00 price objective on shares of Viacom in a research note on Monday, April 17th. Finally, Pivotal Research restated a "hold" rating and issued a $40.00 target price on shares of Viacom in a research note on Sunday, April 23rd. Rosenblatt Securities reiterated an "underweight" rating on shares of Viacom in a report on Friday, April 14th. Royal Bank Of Canada cut their target price on Viacom from $35.00 to $30.00 and set an "underperform" rating on the stock in a research note on Friday, May 5th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have given a buy rating to the company's stock. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.

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