Market Update: Viacom Inc (NASDAQ:VIAB) – Nickelodeon Greenlights First New Global Series to be Produced in the Viacom International Studios in Miami

[Business Wire] – Nickelodeon today announced the first series that will be produced in the new state of the art Viacom International Studios in Miami. The studio which boasts two 15,000 sq. foot stages and was completed in late 2015 will serve as a multiplatform production hub for all of Viacom’s brands. Read more on this. Viacom, Inc. (VIAB) , with a current value of $15.86B, began trading this morning at $41.07. Looking at the equity, the company’s one day range is $39.43 to $41.09 with a trailing 52-week range being $36.32 to $73.52. VIAB shares are currently priced at 7.18x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.73x earnings multiple for the same period. The company pays shareholders $1.60 per share annually in dividends, yielding 4.02%. According to a consensus of 33 analysts, the earnings estimate of $1.19 per share would be $0.10 worse than the year-ago quarter and a $0.23 sequential decrease. Investors should also note that the full-year EPS estimate of $5.81 is a $0.37 improvement when compared to the previous year’s annual results. 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. More recently, Deutsche Bank downgraded VIAB from Buy to Hold (Nov 23, 2015). Previously, Goldman downgraded VIAB from Buy to Neutral. With the above information in mind, readers should note that the average price target is $57.12, which is 39.08% above where the stock opened this morning. See more in (NASDAQ:VIAB) Similar Articles: Market Update: Viacom Inc (NASDAQ:VIAB) – CBS, Viacom exec chair Redstone’s compensation cut in 2015-CNBC 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