Market Update: Viacom Inc (NASDAQ:VIAB) – Viacom Extends Employment Agreement with Senior Executive Vice President and Chief Operating Officer Thomas Dooley Through 2018

[Business Wire] – Viacom Inc. today announced that it has extended the employment agreement of Senior Executive Vice President and Chief Operating Officer Thomas Dooley through December 31, 2018. Read more on this. Viacom, Inc. (VIAB) , valued at $16.57B, began trading this morning at $40.35. Shares have traded today between $40.11 and $42.16 per share and has traded between $30.11 and $73.52 over the past 12 months. Priced at 7.45x this year’s forecasted earnings, VIAB shares are relatively inexpensive compared to the industry’s 22.17x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.60 per share annually in dividends, yielding 4.02%. According to a consensus of 34 analysts, the earnings estimate of $0.94 per share would be $0.22 worse than the year-ago quarter and a $0.29 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $5.21 is a $0.23 setback 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 $3.04 Billion. If realized, that would be a 1.30% decrease over the year-ago quarter. In terms of ratings, Citigroup upgraded VIAB from Neutral to Buy (Feb 16, 2016). Previously, Telsey Advisory Group Initiated VIAB at to Outperform. The average price target for VIAB shares is $47.59, which is 17.94% above where the stock opened this morning. See more in (NASDAQ:VIAB) Similar Articles: Market Update: Viacom Inc (NASDAQ:VIAB) – Nickelodeon Greenlights First New Global Series to be Produced in the Viacom International Studios in Miami 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