Barrington analyst James Goss reiterated a Buy rating on ViacomCBS (VIAC) today and set a price target of $30.00. The company’s shares closed last Thursday at $26.88.
According to TipRanks.com, Goss has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.3% and a 43.3% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment, Clear Channel Outdoor, and Nexstar Media Group.
Currently, the analyst consensus on ViacomCBS is a Moderate Buy with an average price target of $28.23, a 6.1% upside from current levels. In a report issued on July 30, Guggenheim also reiterated a Buy rating on the stock with a $27.00 price target.
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Based on ViacomCBS’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.67 billion and net profit of $516 million. In comparison, last year the company earned revenue of $7.1 billion and had a net profit of $1.96 billion.
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ViacomCBS, Inc. operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the Company’s digital streaming services, CBS All Access and CBSN. The Cable Networks includes Showtime Networks, CBS Sports Network, and Smithsonian Networks. The Publishing segment manages the Simon & Schuster’s consumer book publishing business with imprints such as Simon & Schuster, Pocket Books, Scribner, and Atria Books. The Local Media segment handles the CBS Television Stations, and CBS Local Digital Media, with revenues generated primarily from advertising sales and retransmission fees. The company was founded by Sumner Murray Redstone in 1986 and is headquartered in New York, NY.
