ViacomCBS (NASDAQ:VIAC) was downgraded by stock analysts at Barclays from an “overweight” rating to an “underweight” rating in a research report issued on Tuesday, The Fly reports. They currently have a $35.00 price target on the stock, down from their previous price target of $36.00. Barclays‘s target price would indicate a potential downside of 19.28% from the company’s previous close.
A number of other equities analysts also recently commented on the company. Needham & Company LLC lifted their price objective on ViacomCBS from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. The Goldman Sachs Group lifted their target price on ViacomCBS from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. Bank of America downgraded ViacomCBS from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $30.00 to $32.00 in a research report on Friday, December 18th. Zacks Investment Research cut ViacomCBS from a “hold” rating to a “sell” rating and set a $31.00 target price for the company. in a research note on Friday, November 13th. Finally, Credit Suisse Group reissued a “hold” rating and set a $28.00 target price on shares of ViacomCBS in a research note on Tuesday, October 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $34.25.
Shares of ViacomCBS stock opened at $43.36 on Tuesday. ViacomCBS has a one year low of $10.10 and a one year high of $46.86. The company has a market cap of $26.76 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.06 and a beta of 1.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.45 and a current ratio of 1.69. The business’s 50 day moving average price is $38.10 and its 200 day moving average price is $30.72.
ViacomCBS (NASDAQ:VIAC) last announced its quarterly earnings data on Friday, November 6th. The company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. ViacomCBS had a return on equity of 18.58% and a net margin of 5.22%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue was up 85.6% compared to the same quarter last year. On average, analysts predict that ViacomCBS will post 4.29 EPS for the current fiscal year.
In other news, EVP Dede Lea sold 10,459 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $29.91, for a total transaction of $312,828.69. Following the completion of the transaction, the executive vice president now directly owns 28,542 shares of the company’s stock, valued at approximately $853,691.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Several institutional investors have recently bought and sold shares of VIAC. Evolution Wealth Advisors LLC lifted its holdings in shares of ViacomCBS by 138.3% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 896 shares of the company’s stock valued at $25,000 after purchasing an additional 520 shares during the last quarter. Federated Hermes Inc. raised its stake in ViacomCBS by 529.7% during the 3rd quarter. Federated Hermes Inc. now owns 976 shares of the company’s stock valued at $27,000 after acquiring an additional 821 shares during the last quarter. Biltmore Capital Advisors LLC purchased a new stake in ViacomCBS during the 3rd quarter valued at approximately $29,000. Planned Solutions Inc. purchased a new stake in ViacomCBS during the 3rd quarter valued at approximately $48,000. Finally, Capital Analysts LLC purchased a new stake in ViacomCBS during the 3rd quarter valued at approximately $49,000. 80.47% of the stock is owned by institutional investors and hedge funds.
ViacomCBS Company Profile
ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates in four segments: TV Entertainment, Cable Networks, Filmed Entertainment, and Publishing. The TV 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; and streaming subscription services.
Further Reading: What is a Futures Contract?
