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ViacomCBS (VIAC) Moves 10% Higher: Will This Strength Last?

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ViacomCBS (VIAC - Free Report) shares ended the last trading session 10% higher at $94.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 50.8% gain over the past four weeks.

The upswing in share price came as the company began trading ex-dividend on Mar 12, 2021. A cash dividend payment of 24 cents per share is scheduled to be paid out on Apr 1, 2021. Shareholders who purchased shares of ViacomCBS prior to the ex-dividend date are eligible for the cash dividend payment. ViacomCBS has maintained the same dividend for six quarters now.

Price and Consensus

Price Consensus Chart for ViacomCBS

This company is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of +1.8%. Revenues are expected to be $7.29 billion, up 9.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For ViacomCBS, the consensus EPS estimate for the quarter has been revised 13.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VIAC going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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