Viacom Inc. (VIA) Stock Rating Reaffirmed by Wedbush
Viacom Inc. (NASDAQ:VIA)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a research report issued on Tuesday. They currently have a $40.00 price target on the stock, down from their previous price target of $44.00. Wedbush’s target price suggests a potential downside of 2.25% from the company’s current price.
A number of other analysts also recently issued reports on VIA. BTIG Research raised Viacom from a “neutral” rating to a “buy” rating in a research report on Thursday, June 16th. Drexel Hamilton reissued a “hold” rating on shares of Viacom in a research report on Friday, June 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price target (up previously from $34.00) on shares of Viacom in a research report on Friday, June 17th. Wunderlich reissued a “buy” rating and set a $87.00 price target on shares of Viacom in a research report on Friday, June 17th. Finally, Brean Capital started coverage on Viacom in a research report on Thursday, July 7th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Viacom has an average rating of “Hold” and an average target price of $48.78.
Viacom (NASDAQ:VIA) opened at 40.92 on Tuesday. Viacom has a 52-week low of $33.88 and a 52-week high of $54.69. The company’s 50 day moving average price is $44.21 and its 200 day moving average price is $45.50. The company has a market cap of $16.23 billion, a P/E ratio of 7.88 and a beta of 1.25.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, September 22nd. Viacom’s payout ratio is presently 15.41%.
Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in shares of Viacom by 7,099.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 532,733 shares of the company’s stock valued at $22,130,000 after buying an additional 525,333 shares during the period. SkyBridge Capital II LLC bought a new position in shares of Viacom during the second quarter valued at about $13,776,000. S. Muoio & CO. LLC increased its position in shares of Viacom by 71.3% in the first quarter. S. Muoio & CO. LLC now owns 124,411 shares of the company’s stock valued at $5,636,000 after buying an additional 51,800 shares during the period. FMR LLC increased its position in shares of Viacom by 12.5% in the second quarter. FMR LLC now owns 450,000 shares of the company’s stock valued at $20,889,000 after buying an additional 50,000 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Viacom by 93.8% in the second quarter. BlackRock Fund Advisors now owns 95,299 shares of the company’s stock valued at $4,424,000 after buying an additional 46,122 shares during the period. Hedge funds and other institutional investors own 2.18% of the company’s stock.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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