Is ViacomCBS a Buy Under $35? -Breaking
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© Reuters. Is ViacomCBS a Buy Under $35?ViacomCBS’s (NASDAQ:) last quarter saw solid streaming revenue growth, largely due to strong subscriptions and advertising. The company currently is focusing its efforts on organic growth as well as restructuring operations. The stock fell to $28.90, its 52-week low price, in the last trading session. Also, given the stock’s high volatility, is it an ideal investment now? Continue reading. ViacomCBS Inc., New York City (VIAC), is a global media and entertainment company. It operates via TV Entertainment, Cable Networks and Filmed Entertainment segments. VIAC intends to concentrate on organic growth as well as global expansion, but there are no merger plans. “I think our growth trajectory is actually pretty high at this point in time,” said ViacomCBS Inc Chair Shari Redstone.
To raise capital and to invest in strategic areas such as streaming services, the company will sell CBS Studio Center at a price of nearly $1.85billion. This aligns with VIAC’s earlier announcement concerning its restructuring plans for Paramount Pictures’ movie and television production unit. The company plans to increase content for its streaming and cable services. The company’s restructuring plans should boost its overall operations and strengthen its position in the streaming-first world.
VIAC shares have slumped 30.3% in price over the past six months and 20.3% over the past month to close yesterday’s trading session at $29.56. VIAC shares are trading below their 50-day and 200 day moving averages. VIAC shares hit their 52-week low of $28.90 in yesterday’s trading session. In its most recent quarterly results, the media company reported solid streaming revenue growth. Its net earnings decreased. VIAC is expected to report negative earnings growth during the current quarter, according to the Street. The stock’s near-term prospects look uncertain, given the anticipated negative returns. And though the company’s restructuring plans should help improve its financials, it might take a while before significant improvements can be seen.
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