Equities research analysts expect ViacomCBS Inc. (NASDAQ:VIAC) to report sales of $7.46 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ViacomCBS’s earnings. The lowest sales estimate is $7.37 billion and the highest is $7.57 billion. ViacomCBS reported sales of $6.67 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, May 6th.
According to Zacks, analysts expect that ViacomCBS will report full-year sales of $27.80 billion for the current year, with estimates ranging from $27.04 billion to $28.37 billion. For the next year, analysts expect that the business will report sales of $28.58 billion, with estimates ranging from $27.94 billion to $29.35 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for ViacomCBS.
ViacomCBS (NASDAQ:VIAC) last announced its earnings results on Wednesday, February 24th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. ViacomCBS had a return on equity of 18.58% and a net margin of 5.22%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period in the previous year, the firm earned $0.97 earnings per share.
VIAC has been the topic of a number of recent research reports. Cowen boosted their target price on ViacomCBS from $39.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday, March 1st. Loop Capital upgraded ViacomCBS from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Monday, March 29th. Wells Fargo & Company reiterated an “underweight” rating on shares of ViacomCBS in a research note on Thursday, April 1st. Evercore ISI boosted their price objective on ViacomCBS from $40.00 to $50.00 in a research report on Thursday, February 25th. Finally, BMO Capital Markets raised ViacomCBS from an “underperform” rating to a “market perform” rating and set a $70.00 price objective for the company in a research report on Monday, March 29th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $47.92.
NASDAQ VIAC traded up $0.31 on Thursday, reaching $39.97. The stock had a trading volume of 20,375,770 shares, compared to its average volume of 35,318,371. The business has a 50 day moving average price of $53.04 and a 200 day moving average price of $46.60. The company has a current ratio of 1.69, a quick ratio of 1.45 and a debt-to-equity ratio of 1.29. ViacomCBS has a 1 year low of $14.78 and a 1 year high of $101.97. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.06 and a beta of 1.79.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.40%. ViacomCBS’s payout ratio is presently 19.16%.
In related news, EVP Richard M. Jones sold 40,285 shares of the stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $80.62, for a total transaction of $3,247,776.70. Following the sale, the executive vice president now directly owns 28,217 shares in the company, valued at approximately $2,274,854.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Linda M. Griego sold 6,000 shares of the stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $64.51, for a total value of $387,060.00. Following the sale, the director now owns 39,230 shares in the company, valued at $2,530,727.30. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Auxier Asset Management boosted its position in ViacomCBS by 1.2% in the 4th quarter. Auxier Asset Management now owns 12,236 shares of the company’s stock valued at $456,000 after buying an additional 141 shares during the last quarter. Federated Hermes Inc. boosted its position in ViacomCBS by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 1,165 shares of the company’s stock valued at $43,000 after buying an additional 189 shares during the last quarter. Carret Asset Management LLC boosted its position in ViacomCBS by 2.6% in the 4th quarter. Carret Asset Management LLC now owns 7,941 shares of the company’s stock valued at $296,000 after buying an additional 200 shares during the last quarter. Captrust Financial Advisors boosted its position in ViacomCBS by 2.5% in the 4th quarter. Captrust Financial Advisors now owns 9,027 shares of the company’s stock valued at $339,000 after buying an additional 218 shares during the last quarter. Finally, Ellevest Inc. boosted its position in ViacomCBS by 5.8% in the 4th quarter. Ellevest Inc. now owns 4,044 shares of the company’s stock valued at $151,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 80.47% of the company’s stock.
ViacomCBS Company Profile
ViacomCBS, Inc operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the Company’s digital streaming services, CBS All Access and CBSN.
See Also: Dividend Reinvestment Plan (DRIP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ViacomCBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViacomCBS and related companies with MarketBeat.com's FREE daily email newsletter.