Viacom Inc. (VIAB) Upgraded at Bank of America Corp.
Viacom Inc. (NASDAQ:VIAB) was upgraded by research analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $44.00 target price on the stock, up from their prior target price of $37.00. Bank of America Corp.’s price target suggests a potential upside of 25.28% from the company’s current price.
Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Co. raised shares of Viacom from an “underperform” rating to a “market perform” rating in a research report on Thursday. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Viacom in a research report on Wednesday, October 5th. Loop Capital reaffirmed a “hold” rating and issued a $39.00 target price (down previously from $41.00) on shares of Viacom in a research report on Friday, September 30th. Wedbush cut their target price on shares of Viacom from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, September 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $46.00 target price (down previously from $48.00) on shares of Viacom in a research report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have assigned a buy rating to the stock. Viacom presently has a consensus rating of “Hold” and a consensus price target of $43.81.
Shares of Viacom (NASDAQ:VIAB) traded up 0.94% on Thursday, hitting $35.45. The stock had a trading volume of 1,668,267 shares. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 6.82 and a beta of 1.33. The firm has a 50 day moving average of $37.87 and a 200-day moving average of $41.09. Viacom has a 1-year low of $30.11 and a 1-year high of $53.35.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The company earned $3.11 billion during the quarter, compared to the consensus estimate of $3.01 billion. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 earnings per share. Equities analysts predict that Viacom will post $3.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were given a $0.20 dividend. The ex-dividend date was Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.28%. Viacom’s dividend payout ratio (DPR) is 15.41%.
Large investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC boosted its stake in Viacom by 45.1% in the first quarter. Sentry Investment Management LLC now owns 21,211 shares of the company’s stock valued at $876,000 after buying an additional 6,596 shares during the period. Columbia Partners L L C Investment Management boosted its stake in Viacom by 18.3% in the first quarter. Columbia Partners L L C Investment Management now owns 24,377 shares of the company’s stock valued at $1,006,000 after buying an additional 3,764 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in Viacom during the first quarter valued at about $337,000. Royce & Associates LP boosted its stake in Viacom by 18.5% in the first quarter. Royce & Associates LP now owns 186,000 shares of the company’s stock valued at $7,678,000 after buying an additional 29,000 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in Viacom during the first quarter valued at about $382,000. 76.12% of the stock is owned by institutional investors.
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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