Epix Sale Gives Viacom's 3Q Earnings a Boost

Credit Viacom

Investors of record on Friday, September 15th will be given a dividend of 0.20 per share on Monday, October 2nd.

Viacom posted third quarter earnings of $1.17 per share, beating the street consensus of $1.05 as revenue rose 8.3% to $3.36 billion. The ex-dividend date was Tuesday the 13th of June 2017. (NASDAQ:VIAB) traded up 1.64% during trading on Thursday, reaching $34.65.

Viacom's comments about its networks arrive alongside a fiscal third-quarter that saw the company boost its revenues and grow its net earnings from continuing operations by 57% to $680 million, thanks largely to the sale of its stake in EPIX. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 11.59 and a beta of 1.57.

Quarterly revenues surged 36% year over year to $847 million.

Viacom shares have fallen sharply on news of a delayed payment from a Chinese partner and uncertainty about the future prospects of pay TV in the U.S. after the media group posted Q3 results, despite it posting solid gains in revenue and profit. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.12. However, it couldn't match Wall Street's revenue estimate of $3.41 billion for the quarter.

At the moment 32 analysts are watching Viacom Inc. Equities analysts expect that Viacom will post $3.86 EPS for the current fiscal year.

Analysts await Viacom Inc. The average stock price target is $47.27 with 5 brokers rating the stock a strong buy, 9 brokers rating the stock a buy, 18 brokers rating the stock a hold, 4 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell. They now have a United States dollars 45 price target on the stock.

Receive Viacom Inc. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom Inc. with MarketBeat.com's FREE daily email newsletter. First Mercantile Trust Co. now owns 3,374 shares of the company's stock valued at $157,000 after buying an additional 1,223 shares in the last quarter.

Shares of Viacom Inc. Fifth Third Bancorp now owns 2,616 shares of the company's stock worth $122,000 after buying an additional 225 shares during the period. First Personal Financial Services now owns 3,086 shares of the company's stock worth $144,000 after buying an additional 2,805 shares during the period. "(NASDAQ:VIAB) Upgraded by BidaskClub to "Hold" was reported by Community Financial News and is the property of of Community Financial News. Institutional investors own 77.33% of the company's stock. - Class B Common Stock (NASDAQ:VIAB) from a Neutral to a Underweight on Friday morning.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another website, it was copied illegally and reposted in violation of USA and global copyright and trademark law. CrestPoint Capital Management LLC bought a new position in shares of Viacom during the first quarter worth approximately $373,000. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/03/nisa-investment-advisors-llc-decreases-stake-in-viacom-inc-nasdaqviab-updated.html.

The Company's cash balance was $425 million at June 30, 2017, an increase from $379 million at September 30, 2016.

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