Market Update (NASDAQ:VIAB): Viacom Expands Direct-to-Consumer Offering with International Launch of BET Play

[Business Wire] – Viacom International Media Networks today announced the launch of BET Play, Viacom’s first-ever direct-to-consumer, subscription video on demand application for the adult audience, giving fans in 100 countries direct mobile access to BET’s signature award shows, current and classic television series, documentaries, standup comedy, entertainment news and legendary musical performances. Read more on this. Viacom, Inc. (VIAB) , with a current value of $17.27B, ended trading yesterday at $43.53. Today’s price range has been between $43.28 and $43.81 per share with a one year range of $30.11 to $67.54. Priced at 9.26x this year’s forecasted earnings, VIAB shares are relatively inexpensive compared to the industry’s 12.30x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.60 per share annually in dividends, yielding 3.60%. According to a consensus of 35 analysts, the earnings estimate of $1.22 per share would be $0.25 worse than the year-ago quarter and a $0.23 sequential decrease. The full-year EPS estimate is $4.70, which would be a $0.74 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.11 Billion. If realized, that would be a 1.63% increase over the year-ago quarter. In terms of ratings, RBC Capital Mkts upgraded VIAB from Underperform to Sector Perform (Jun 17, 2016). Previously, BTIG Research upgraded VIAB from Neutral to Buy. The average price target for VIAB shares by the analysts covering the stock is $47.33, which is 8.73% above where the stock opened this morning. See more in (NASDAQ:VIAB) Similar Articles: Stock Update: Viacom Inc (NASDAQ:VIAB) – Viacom and American Express Form Exclusive Partnership and Launch a First-of-Its-Kind Data-Driven Ad Product, “Vantage Intent, powered by AmEx” Company Update: Viacom Inc (NASDAQ:VIAB) – Viacom Presents Industry’s First-Ever Datafront Market Update: Viacom Inc (NASDAQ:VIAB) – Nickelodeon Greenlights First New Global Series to be Produced in the Viacom International Studios in Miami