Viad Corp. (VVI) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of Viad Corp. (NYSE:VVI) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday. They currently have $43.00 price objective on the stock.
According to Zacks, “Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad’s services are provided to businesses for use by their customers. Accordingly, the corporation markets its services through retail and financial locations, primarily in the U.S., to numerous trade show organizers and exhibitors, and others. “
Separately, B. Riley restated a buy rating and set a $42.00 price target on shares of Viad Corp. in a research report on Wednesday, August 17th.
Shares of Viad Corp. (NYSE:VVI) traded up 0.52% during mid-day trading on Thursday, hitting $36.93. 10,969 shares of the company traded hands. The stock has a market capitalization of $749.13 million, a price-to-earnings ratio of 39.88 and a beta of 1.07. The firm has a 50-day moving average of $36.18 and a 200-day moving average of $32.28. Viad Corp. has a one year low of $25.90 and a one year high of $37.85.
Viad Corp. (NYSE:VVI) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.22. The company earned $324.70 million during the quarter, compared to analyst estimates of $304.90 million. Viad Corp. had a net margin of 1.75% and a return on equity of 6.77%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, equities analysts predict that Viad Corp. will post $2.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, September 7th. Viad Corp.’s dividend payout ratio is currently 43.48%.
In related news, Director Robert E. Munzenrider sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $35.87, for a total value of $71,740.00. Following the sale, the director now directly owns 22,106 shares of the company’s stock, valued at $792,942.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC acquired a new position in Viad Corp. during the second quarter valued at approximately $123,000. BlackRock Inc. increased its position in Viad Corp. by 184.5% in the second quarter. BlackRock Inc. now owns 4,020 shares of the company’s stock valued at $124,000 after buying an additional 2,607 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Viad Corp. during the second quarter valued at about $138,000. BNP Paribas Arbitrage SA boosted its position in shares of Viad Corp. by 112.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,319 shares of the company’s stock valued at $196,000 after buying an additional 3,342 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Viad Corp. during the second quarter valued at about $211,000. 88.32% of the stock is currently owned by hedge funds and other institutional investors.
Viad Corp. Company Profile
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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