Needham & Company Reiterates a 'Buy' on Viacom (VIA-B); Raising PT and FY3Q11 Preview
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Price: $44.76 --0%
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Needham & Company reiterates a 'Buy' on Viacom (NYSE: VIA-B), PT increased from $55 to $63.
Needham analyst says, "For FY3Q11E, solid ratings at VIAB’s cable networks combined with a strong advertising market should contribute to higher than previously estimated revenue in each of Media Networks’ three divisions, which in turn is drove higher segment operating income in the quarter. We are also raising our operating income estimates for Entertainment in 3Q11. As a result of these changes, we raise our FY3Q11: 1. Revenue estimates by 2.5% to $3.529B, up 7% y/y, (2% above our previous estimates); 2. Operating Income estimate by 6% to $871mm, up 7% y/y; and 3. Operating EPS by 6.3% to $0.85 (from $0.80)."
"For 4Q11, we are lowering our revenue estimates for Entertainment by 14% to $1.6B, but the profit impact is offset by increased profitability in Media Networks resulting in higher Operating Income for the quarter, up 1.2% to $1.093B, and
higher EPS, up $0.01 to $1.00."
For more ratings news on Viacom click here and for the rating history of Viacom click here.
Shares of Viacom closed at $51.96 yesterday.
Needham analyst says, "For FY3Q11E, solid ratings at VIAB’s cable networks combined with a strong advertising market should contribute to higher than previously estimated revenue in each of Media Networks’ three divisions, which in turn is drove higher segment operating income in the quarter. We are also raising our operating income estimates for Entertainment in 3Q11. As a result of these changes, we raise our FY3Q11: 1. Revenue estimates by 2.5% to $3.529B, up 7% y/y, (2% above our previous estimates); 2. Operating Income estimate by 6% to $871mm, up 7% y/y; and 3. Operating EPS by 6.3% to $0.85 (from $0.80)."
"For 4Q11, we are lowering our revenue estimates for Entertainment by 14% to $1.6B, but the profit impact is offset by increased profitability in Media Networks resulting in higher Operating Income for the quarter, up 1.2% to $1.093B, and
higher EPS, up $0.01 to $1.00."
For more ratings news on Viacom click here and for the rating history of Viacom click here.
Shares of Viacom closed at $51.96 yesterday.
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