Wedbush Reiterates “Outperform” Rating for Viacom Inc. (VIA)
Viacom Inc. (NASDAQ:VIA)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Monday. They presently have a $40.00 target price on the stock, down from their previous target price of $46.00. Wedbush’s target price points to a potential downside of 0.84% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Bank of America Corp. raised shares of Viacom from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $44.00 in a research note on Thursday. Brean Capital began coverage on shares of Viacom in a research note on Thursday, July 7th. They issued a “hold” rating for the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $51.00 price target (down from $53.00) on shares of Viacom in a research note on Saturday, August 6th. FBR & Co reaffirmed an “outperform” rating and issued a $59.00 price target (down from $67.00) on shares of Viacom in a research note on Tuesday, July 26th. Finally, Argus reaffirmed a “hold” rating on shares of Viacom in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.67.
Shares of Viacom (NASDAQ:VIA) opened at 40.34 on Monday. The company has a market capitalization of $16.00 billion, a PE ratio of 7.77 and a beta of 1.17. The stock has a 50 day moving average of $42.17 and a 200-day moving average of $45.21. Viacom has a one year low of $33.88 and a one year high of $54.69.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, September 22nd. Viacom’s dividend payout ratio is 15.41%.
Hedge funds have recently made changes to their positions in the company. SkyBridge Capital II LLC bought a new stake in shares of Viacom during the second quarter valued at approximately $13,776,000. First Trust Advisors LP acquired a new stake in Viacom during the second quarter valued at about $226,000. State Board of Administration of Florida Retirement System raised its stake in 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. Gabelli Securities Inc. raised its stake in Viacom by 227.3% in the second quarter. Gabelli Securities Inc. now owns 36,000 shares of the company’s stock valued at $1,671,000 after buying an additional 25,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Viacom by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 91,374 shares of the company’s stock valued at $4,243,000 after buying an additional 9,084 shares during the period. 2.18% of the stock is currently owned by institutional investors and hedge funds.
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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