FBR & Co Downgrades Viacom Inc. (VIAB) to Market Perform
Viacom Inc. (NASDAQ:VIAB) was downgraded by FBR & Co from an “outperform” rating to a “market perform” rating in a report released on Tuesday. They currently have a $44.00 price target on the stock, down from their previous price target of $56.00. FBR & Co’s price objective would indicate a potential upside of 13.23% from the stock’s previous close.
VIAB has been the subject of several other reports. Brean Capital reaffirmed a “hold” rating on shares of Viacom in a research report on Thursday, September 8th. Vetr raised shares of Viacom from a “sell” rating to a “hold” rating and set a $42.50 price target for the company in a research report on Tuesday, August 2nd. Telsey Advisory Group reduced their price target on shares of Viacom from $47.00 to $42.00 and set a “market perform” rating for the company in a research report on Thursday, November 10th. Jefferies Group reissued a “buy” rating on shares of Viacom in a research report on Thursday, August 11th. Finally, Wedbush reduced their price target 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. Two analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $43.18.
Shares of Viacom (NASDAQ:VIAB) opened at 38.86 on Tuesday. The firm has a market capitalization of $15.43 billion, a P/E ratio of 10.75 and a beta of 1.32. The firm’s 50-day moving average price is $36.94 and its 200 day moving average price is $40.62. Viacom has a 12 month low of $30.11 and a 12 month high of $53.35.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The business earned $3.23 billion during the quarter, compared to the consensus estimate of $3.31 billion. Viacom had a net margin of 11.52% and a return on equity of 36.21%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Analysts anticipate that Viacom will post $3.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, December 13th. Viacom’s dividend payout ratio is currently 22.10%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. First New York Securities LLC NY raised its position in shares of 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 position in shares of Viacom during the second quarter valued at $131,000. First Mercantile Trust Co. bought a new position in shares of Viacom during the second quarter valued at $135,000. Hussman Strategic Advisors Inc. bought a new position in shares of Viacom during the second quarter valued at $137,000. Finally, Smithfield Trust Co. bought a new position in shares of Viacom during the second quarter valued at $141,000. 75.03% 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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