Viacom revenue drops 7.6 pct

AM ET Tax Gains Lift Viacom Net Despite Lower Revenue Cable network domestic ad revenue down 5

AM ET Tax Gains Lift Viacom Net Despite Lower Revenue Cable network domestic ad revenue down 5

Viacom, a part of Services sector and belongs to Entertainment - Diversified industry. The analyst also forecast that US affiliate fee revenue could fall 9.4 percent on such recent carriage renewals as with Charter Communications. The institutional investor owned 38,250 shares of the company's stock after acquiring an additional 17,100 shares during the period. "Additionally, since the end of the quarter, we continued to expand our digital capabilities with the acquisition of influence marketer WHOSAY and the world's premier online video event, VidCon", said Viacom CEO Bob Bakish in a statement.

A number of other hedge funds also recently modified their holdings of the business.

Net earnings from continuing operations attributable to Viacom grew to USD$535 million - primarily the result of a cut in taxes in addition to lower expenses, according to the company. Oldfield Partners LLP grew its stake in Viacom by 25.6% in the 4th quarter. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. It is a positive indicator for investor portfolio value - when the price of a stock Investor owns goes up in value. As more viewers cancel their cable and satellite subscriptions in favor of watching their favorite shows online, distributors are less likely to pay for Viacom's programs.

Viacom (NASDAQ:VIAB) traded up $2.83 during trading on Thursday, reaching $33.34. Viacom, Inc. has a 52-week low of $22.13 and a 52-week high of $46.72. The company has a current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 1.81. The company's revenue was down 7.6% compared to the same quarter past year.

Viacom, Inc. (NASDAQ:VIAB) closed its last session at $30.51. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.94 by $0.09.

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Viacom, Inc. (NASDAQ:VIAB) gross margin percentage stands at 43.9% while its operating margin for the past trailing twelve month is 21 percent and its overall profit margin (ttm) is 14.1 Percent. The company had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same quarter in the previous year, the firm earned $1.05 EPS.

The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures posted revenue of $3.07 billion in the period.

Viacom executives during a morning earnings conference call chose not to answer questions from analysts on its exploration of a possible merger with CBS Corp., which the companies recently announced. Finally, Wells Fargo & Co restated a hold rating on shares of Viacom in a report on Monday, January 29th. Price Target plays a critical role when it comes to the analysis of a Stock. Barclays set a $32.00 price objective on Viacom and gave the stock a "hold" rating in a report on Friday, October 20th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & global copyright and trademark laws. For every buyer, there needs to be someone who sold them the shares they bought, just as there must be a buyer in order for a seller to get rid of his or her shares.

More notable recent Viacom, Inc. As per Tuesday, January 2, the company rating was downgraded by Barrington.

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