Wall Street brokerages predict that ViacomCBS Inc. (NASDAQ:VIAC) will announce $6.95 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for ViacomCBS’s earnings. The highest sales estimate is $7.12 billion and the lowest is $6.86 billion. ViacomCBS reported sales of $6.87 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.2%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, February 24th.
On average, analysts expect that ViacomCBS will report full-year sales of $25.94 billion for the current financial year, with estimates ranging from $25.80 billion to $26.18 billion. For the next financial year, analysts expect that the business will report sales of $27.50 billion, with estimates ranging from $27.24 billion to $27.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover ViacomCBS.
A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of ViacomCBS from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Moffett Nathanson boosted their target price on shares of ViacomCBS from $26.00 to $50.00 in a research report on Friday, January 15th. Zacks Investment Research downgraded ViacomCBS from a “hold” rating to a “sell” rating and set a $31.00 price target on the stock. in a research report on Friday, November 13th. UBS Group cut ViacomCBS from a “neutral” rating to a “sell” rating and set a $29.00 price objective for the company. in a report on Monday, February 8th. Finally, KeyCorp initiated coverage on ViacomCBS in a research note on Tuesday, December 8th. They issued an “underweight” rating and a $30.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. ViacomCBS currently has an average rating of “Hold” and an average price target of $37.82.
Hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in ViacomCBS by 19.4% in the 4th quarter. Federated Hermes Inc. now owns 1,165 shares of the company’s stock worth $43,000 after buying an additional 189 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of ViacomCBS by 2.5% in the fourth quarter. Captrust Financial Advisors now owns 9,027 shares of the company’s stock worth $339,000 after acquiring an additional 218 shares during the last quarter. Ellevest Inc. increased its position in shares of ViacomCBS by 5.8% during the fourth quarter. Ellevest Inc. now owns 4,044 shares of the company’s stock worth $151,000 after purchasing an additional 222 shares in the last quarter. Kings Point Capital Management increased its position in shares of ViacomCBS by 34.4% during the fourth quarter. Kings Point Capital Management now owns 973 shares of the company’s stock worth $36,000 after purchasing an additional 249 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its stake in ViacomCBS by 1.7% in the 4th quarter. Regentatlantic Capital LLC now owns 16,852 shares of the company’s stock valued at $628,000 after purchasing an additional 287 shares during the last quarter. 80.47% of the stock is owned by institutional investors and hedge funds.
Shares of ViacomCBS stock traded down $1.59 on Thursday, reaching $64.55. 660,913 shares of the stock were exchanged, compared to its average volume of 16,941,018. The business has a 50 day moving average price of $49.69 and a two-hundred day moving average price of $35.52. The firm has a market capitalization of $39.84 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 1.06 and a beta of 1.79. ViacomCBS has a twelve month low of $10.10 and a twelve month high of $67.20. The company has a quick ratio of 1.45, a current ratio of 1.69 and a debt-to-equity ratio of 1.29.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Monday, March 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, March 12th. ViacomCBS’s payout ratio is 19.16%.
ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates in four segments: TV Entertainment, Cable Networks, Filmed Entertainment, and Publishing. The TV 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; and streaming subscription services.
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