Viacom’s quarterly revenue falls five per cent

The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. The ex-dividend date is Friday, December 11th. Topeka Capital Markets reaffirmed a “hold” rating and issued a $45.00 price target (up previously from $43.00) on shares of Viacom in a research note on Thursday, October 8th. (NASDAQ:VIAB) shares over potential wrongdoing at Viacom, Inc. was announced and NASDAQ:VIAB stockholders should contact the Shareholders Foundation.

Total revenues for Viacom’s Media Network were up 5% to $2.7 million as affiliate revenue grew 15% in the USA and 10% worldwide. For example, if a company forecasts future profitability, the estimated P/E will be lower than the current P/E. P/E is calculated by dividing the market price per share by the expected earnings per share, and also referred to as price-to-earnings. The stock has a 50-day moving average of $48.89 and a 200 day moving average of $55.84.

Viacom reported adjusted earnings from continuing operations of $1.54 per share.

The company shares have dropped -31.93% from its 1 Year high price.

For the year, the company reported profit of $1.92 billion, or $4.73 per share. Analysts on average had expected earnings of $1.55 per share and revenue of $3.88 billion, according to Thomson Reuters I/B/E/S.

Viacom Inc. has an analyst consensus of Moderate Buy, with an average price target of $56.40.

Philippe Dauman, President and Chief Executive Officer of Viacom, added, “Viacom’s fourth quarter and year-end results are indicative of our progress in key areas, including recent ratings improvement and renewals of important distribution agreements”.

Viacom Inc is cutting the number of TV advertisements it airs in a bid to boost ratings. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company.

Revenue from the company’s media networks business, including its cable interests, rose 5 percent, helped by a rise in global ad sales, especially in Europe.

Viacom is a leading global entertainment content company whose family of prominent and respected brands includes the multiplatform properties of MTV Networks, BET Networks, Paramount Pictures, Paramount Home Entertainment and DreamWorks. The Filmed Entertainment segment of the Company finances produces, acquires and distributes motion pictures and other entertainment content. Beneath the Paramount Pictures, Paramount Classics, Paramount Vantage, Insurge Pictures, MTV Films and Nickelodeon Movies brands.