Goldman Sachs Group assumed coverage on shares of ViacomCBS (NASDAQ:VIAC) in a research note published on Monday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $34.00 target price on the stock.
VIAC has been the subject of several other research reports. Wells Fargo & Co reaffirmed a sell rating on shares of ViacomCBS in a report on Sunday. Morgan Stanley reduced their price objective on ViacomCBS from $42.00 to $19.00 and set an equal weight rating for the company in a report on Tuesday, May 5th. Barrington Research reiterated an outperform rating and set a $30.00 target price on shares of ViacomCBS in a research note on Thursday, May 7th. Imperial Capital boosted their price target on ViacomCBS from $42.00 to $45.00 and gave the company an outperform rating in a research note on Monday, June 8th. Finally, Zacks Investment Research raised ViacomCBS from a sell rating to a hold rating in a report on Thursday, June 11th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $30.52.
Shares of NASDAQ VIAC opened at $23.71 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $14.11 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.61 and a beta of 1.87. ViacomCBS has a 12 month low of $10.10 and a 12 month high of $53.71. The stock has a 50 day moving average of $22.99 and a 200-day moving average of $24.97.
ViacomCBS (NASDAQ:VIAC) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.18. ViacomCBS had a return on equity of 22.83% and a net margin of 4.93%. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.57 billion. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts predict that ViacomCBS will post 3.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 12th. This represents a $0.96 annualized dividend and a yield of 4.05%. ViacomCBS’s dividend payout ratio is presently 19.16%.
In other ViacomCBS news, Director Linda M. Griego sold 18,075 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $28.49, for a total value of $514,956.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in VIAC. Polaris Greystone Financial Group LLC bought a new stake in shares of ViacomCBS in the 2nd quarter valued at about $25,826,000. Foundation Resource Management Inc. bought a new position in shares of ViacomCBS during the second quarter worth about $12,688,000. Envestnet Asset Management Inc. acquired a new position in shares of ViacomCBS in the second quarter worth approximately $3,344,000. State of Alaska Department of Revenue bought a new stake in ViacomCBS in the second quarter valued at approximately $2,242,000. Finally, Stolper Co bought a new stake in ViacomCBS in the second quarter valued at approximately $1,768,000. 69.10% of the stock is currently owned by hedge funds and other institutional investors.
ViacomCBS Inc operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The 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; produces theatrical films; and digital streaming services.
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