Viacom Inc. (VIAB) Stock Rating Upgraded by Wedbush
Viacom Inc. (NASDAQ:VIAB) was upgraded by Wedbush from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday. The firm currently has a $46.00 price target on the stock, up from their previous price target of $40.00. Wedbush’s price objective indicates a potential upside of 27.28% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Wunderlich reissued a “buy” rating on shares of Viacom in a report on Sunday, July 10th. Jefferies Group reissued a “buy” rating and set a $49.00 price target on shares of Viacom in a report on Thursday, June 23rd. FBR & Co reissued a “buy” rating on shares of Viacom in a report on Monday, June 20th. Pivotal Research reissued a “buy” rating and set a $52.00 price target on shares of Viacom in a report on Sunday, July 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $50.00 price target on shares of Viacom in a report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $43.99.
Shares of Viacom (NASDAQ:VIAB) opened at 36.14 on Monday. The company’s 50-day moving average price is $37.27 and its 200 day moving average price is $40.96. Viacom has a 1-year low of $30.11 and a 1-year high of $53.35. The firm has a market cap of $14.34 billion, a PE ratio of 6.96 and a beta of 1.33.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 EPS. On average, analysts predict that Viacom will post $3.64 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 22nd. Viacom’s dividend payout ratio is presently 15.41%.
Several hedge funds have recently bought and sold shares of the stock. First New York Securities LLC NY increased its stake in Viacom by 440.0% in the third quarter. First New York Securities LLC NY now owns 2,700 shares of the company’s stock valued at $103,000 after buying an additional 2,200 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in Viacom during the second quarter valued at $131,000. First Mercantile Trust Co. bought a new stake in Viacom during the second quarter valued at $135,000. Hussman Strategic Advisors Inc. bought a new stake in Viacom during the second quarter valued at $137,000. Finally, Smithfield Trust Co. bought a new stake in Viacom during the second quarter valued at $141,000. 76.17% of the stock is owned by hedge funds and other institutional investors.
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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