Viacom VIABis slated to report second-quarter fiscal 2018 results on Apr 25.
Earlier this month, CBS Corp (CBS) offered a below market bid for Viacom, which was immediately rejected. The CBS offer of 0.55 shares for each Viacom class B share failed to impress the owner of Nickelodeon and MTV networks.
The company believes a market price of 0.62 is suitable. Notably, it expects cost synergy of $1 billion from the merger.
Notably, Viacom beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive earnings surprise of 11.09%. In the last reported quarter, the company’s adjusted earnings beat the Zacks Consensus Estimate by 8 cents.