Viacom (VIAB): Reiterating Outperform After Earnings Reaches Top End of Guidance Range - Wedbush
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush analyst James Dix, reiterated his Outperform rating on shares of Viacom (NASDAQ: VIAB) after EPS of $0.69 beat street consenus of $0.65 and came in at the upper end of the $0.65-0.70 preannounced range. The company also cut its dividend by half hinting that there are likely no buybacks coming in FY2017.
Given leverage above company target comfort range (3.9x now), the analyst expect VIAB to focus on strengthening its balance sheet in the near term. No change to the price target of $46.
Shares of Viacom closed at $37.98 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BWS Financial Cuts Price Target on Sigma Designs (SIGM) to $5.00
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
- RBC says 'Trump-onomics' has Reset Industrial Expansion Clock - (HDS) (WCC) (GWW) (MMM)
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!