Viacom (VIAB) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 11, 2016.
Many Wall Street Analysts have commented on Viacom. Shares were Reiterated by Wedbush on Jul 7, 2016 to “Neutral” and Lowered the Price Target to $ 44 from a previous price target of $46 .Company shares were Reiterated by Deutsche Bank on Jun 21, 2016 to “Hold”, Firm has raised the Price Target to $ 39 from a previous price target of $36 .Company shares were Upgraded by RBC Capital Mkts on Jun 17, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 45 from a previous price target of $34 .
On the company’s financial health, Viacom reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.72. The company had revenue of $3001.00 million for the quarter, compared to analysts expectations of $2976.46 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.
Viacom opened for trading at $43.57 and hit $45.35 on the upside on Friday, eventually ending the session at $45.2, with a gain of 5.02% or 2.16 points. The heightened volatility saw the trading volume jump to 58,76,019 shares. Company has a market cap of $17,901 M.
Viacom Inc. (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs motion pictures short-form video applications games consumer products social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment. Viacom Media Networks program services reached approximately 700 million households in over 160 countries. Viacom Media Networks operates the international extensions of the multimedia brands MTV VH1 Nickelodeon Comedy Central and BET as well as certain program services. The Companys Filmed Entertainment segment produces finances acquires and distributes motion pictures and other entertainment content. under the Paramount Pictures Paramount Vantage Paramount Classics Insurge Pictures MTV Films and Nickelodeon Movies brands.