103 days have passed by since the last earnings report for Viacom Inc. (NASDAQ:VIA) and the new quarterly results look set to arrive in 84 days. The shares of VIA at the moment are trading at a volume of 0.16 million, which compares with its normal daily standard volume of 68.73 million shares. This has led to the shares of the company advancing by 1.96%, currently exchanging hands at $27.08 a share. VIA stock has been up by $10.46 (-28.19%) ever since it reached its 52-week high of $37.54 back in April 17, 2019. It has progressed above its 50-day moving average of $25.03 and is up 2.61% over the past week. The stock has retreated -26.3% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the VIA share price due for a breakout?
Analyzing The Earnings History Of Viacom Inc. (NASDAQ:VIA)
In the past few years, the VIA stock has been known to miss the Wall Street’s earnings projection. The company missed 8% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 0 times. Looking at the past trend, the price of Viacom Inc. shares had risen following the release of their earnings in 15 of the last 25 quarters.
Looking back, here is how Viacom Inc. (VIA) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 0 of the last four earnings reports. The shares of Viacom Inc. recorded 2.62%, 2.42%, 2.58% and 2.49%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -15.36%, -1.89%, 1.6% and -0.8%. Their post-earnings price movements have resulted in an average increase of 2.53% and an average decrease of -4.11% in Viacom Inc. on next day and 7th day, sequentially. VIA’s one month stock performance led to its shares rising by 8.84% with a return of -25.07% witnessed over the last 52 weeks.
The lower number of analysts has assigned a buy or better ratings (10) on the Viacom Inc. stock, while 10 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $78. This price target implies potential upside of 188.04 percent over the next 12 months based on the current share price.