Company Update (NASDAQ:VIAB): Viacom Declares Quarterly Cash Dividend

[Business Wire] – Viacom Inc. today announced that its Board of Directors has declared a quarterly cash dividend of $0.40 per share on both its Class A and Class B common stock. Read more on this. Viacom, Inc. (VIAB) , with a current value of $16.43B, started trading this morning at $40.70. Looking at the stock, its one day range is $40.40 to $41.94 with a trailing 52-week range being $36.32 to $73.52. VIAB shares are currently priced at 7.01x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 16.54x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.60 per share annually in dividends, yielding 3.91%. Consensus earnings for the current quarter by the 32 sell-side analysts covering the stock is an estimate of $1.19 per share, which would be $0.10 worse than the year-ago quarter and a $0.23 sequential decrease. The full-year EPS estimate is $5.82, which would be a $0.38 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.27 Billion. If realized, that would be a 2.10% decrease over the year-ago quarter. In terms of ratings, Deutsche Bank downgraded VIAB from Buy to Hold (Nov 23, 2015). Previously, Goldman downgraded VIAB from Buy to Neutral. The average price target for VIAB shares is $58.05, which is 42.63% above where the stock opened this morning. See more in (NASDAQ:VIAB) Similar Articles: Company Update: Viacom Inc (NASDAQ:VIAB) – AT&T and Viacom agree to new satellite, Internet TV distribution deal Company Update: Viacom Inc (NASDAQ:VIAB) – Viacom Acquires 50% Stake in Indian Regional Networks Company Update: Viacom Inc (NASDAQ:VIAB) – Viacom Names Alex Berkett Senior Vice President, Corporate Development