Viacom (VIAB): Reiterating Outperform After Earnings Reaches Top End of Guidance Range - Wedbush
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial 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
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
- Jefferies Cuts Price Target on Dollar General (DG) Following 3Q
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!