Brokerages expect ViacomCBS Inc. (NASDAQ:VIAC) to report $7.46 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for ViacomCBS’s earnings. The highest sales estimate is $7.57 billion and the lowest is $7.37 billion. ViacomCBS posted sales of $6.67 billion in the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The firm is expected to announce its next earnings results 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 financial year, analysts anticipate that the firm will report sales of $28.58 billion, with estimates ranging from $27.94 billion to $29.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for ViacomCBS.
ViacomCBS (NASDAQ:VIAC) last announced its quarterly earnings data on Wednesday, February 24th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. ViacomCBS had a net margin of 5.22% and a return on equity of 18.58%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the business posted $0.97 EPS.
A number of research analysts have commented on VIAC shares. UBS Group downgraded shares of ViacomCBS from a “neutral” rating to a “sell” rating and set a $29.00 target price on the stock. in a research report on Monday, February 8th. BMO Capital Markets raised shares of ViacomCBS from an “underperform” rating to a “market perform” rating and set a $70.00 target price on the stock in a research report on Monday, March 29th. Gabelli raised shares of ViacomCBS from a “hold” rating to a “buy” rating in a research report on Tuesday, March 30th. Evercore ISI raised their target price on shares of ViacomCBS from $40.00 to $50.00 in a research report on Thursday, February 25th. Finally, Macquarie raised shares of ViacomCBS from an “underperform” rating to a “neutral” rating and cut their target price for the company from $78.00 to $47.00 in a research report on Friday. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.92.
In other ViacomCBS news, EVP Richard M. Jones sold 40,285 shares of ViacomCBS stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $80.62, for a total transaction of $3,247,776.70. Following the completion of the sale, the executive vice president now directly owns 28,217 shares in the company, valued at approximately $2,274,854.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Linda M. Griego sold 6,000 shares of ViacomCBS stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $64.51, for a total transaction of $387,060.00. Following the sale, the director now owns 39,230 shares of the company’s stock, valued at $2,530,727.30. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Auxier Asset Management lifted its stake in shares of 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 purchasing an additional 141 shares during the period. Federated Hermes Inc. lifted its stake in shares of 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 purchasing an additional 189 shares during the period. Carret Asset Management LLC lifted its stake in shares of 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 purchasing an additional 200 shares during the period. Captrust Financial Advisors lifted its stake in shares of 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 purchasing an additional 218 shares during the period. Finally, Ellevest Inc. lifted its stake in shares of 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 purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 80.47% of the company’s stock.
VIAC traded up $0.31 on Thursday, reaching $39.97. 20,375,770 shares of the company traded hands, compared to its average volume of 35,318,371. ViacomCBS has a one year low of $14.78 and a one year high of $101.97. The firm has a fifty day simple moving average of $53.04 and a two-hundred day simple moving average of $46.60. The company has a market cap of $24.76 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.79. 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 announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, March 12th. ViacomCBS’s dividend payout ratio is presently 19.16%.
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.
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