Viad Corp. (VVI) Cut to “Hold” at Zacks Investment Research
Viad Corp. (NYSE:VVI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.
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 objective on shares of Viad Corp. in a report on Wednesday, August 17th.
Shares of Viad Corp. (NYSE:VVI) opened at 35.35 on Thursday. The stock’s 50 day moving average price is $36.21 and its 200-day moving average price is $32.76. Viad Corp. has a 12-month low of $25.90 and a 12-month high of $37.85. The company has a market cap of $717.07 million, a PE ratio of 38.17 and a beta of 0.93.
Viad Corp. (NYSE:VVI) last released its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.22. The firm 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 business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. On average, equities research analysts forecast that Viad Corp. will post $2.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. Viad Corp.’s payout ratio is 43.48%.
In other news, Director Robert E. Munzenrider sold 2,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $35.87, for a total transaction of $71,740.00. Following the transaction, the director now owns 22,106 shares in the company, valued at approximately $792,942.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Mason Street Advisors LLC acquired a new stake in Viad Corp. during the second quarter worth $123,000. Royal Bank of Canada boosted its stake in Viad Corp. by 1.3% in the second quarter. Royal Bank of Canada now owns 56,997 shares of the company’s stock worth $1,767,000 after buying an additional 751 shares during the last quarter. Arizona State Retirement System boosted its stake in Viad Corp. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,473 shares of the company’s stock worth $325,000 after buying an additional 200 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Viad Corp. during the second quarter worth $242,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Viad Corp. by 25.4% in the second quarter. Cubist Systematic Strategies LLC now owns 11,538 shares of the company’s stock worth $358,000 after buying an additional 2,337 shares during the last quarter. 88.32% of the stock is currently owned by institutional investors and hedge funds.
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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