Viacom Inc. (VIAB) Cut to Market Perform at FBR & Co
FBR & Co downgraded shares of Viacom Inc. (NASDAQ:VIAB) from an outperform rating to a market perform rating in a report issued on Thursday morning. FBR & Co currently has $44.00 price objective on the stock, down from their prior price objective of $56.00.
Several other brokerages have also issued reports on VIAB. Wells Fargo & Co. upgraded shares of Viacom from an underperform rating to a market perform rating in a report on Thursday, October 13th. Jefferies Group reiterated a buy rating and set a $49.00 price target on shares of Viacom in a research note on Tuesday, September 20th. Pivotal Research lowered shares of Viacom from a buy rating to a hold rating and cut their price target for the stock from $52.00 to $47.00 in a research note on Thursday, August 4th. BMO Capital Markets reiterated a market perform rating and set a $40.00 price target on shares of Viacom in a research note on Tuesday, August 23rd. Finally, Loop Capital reiterated a hold rating and set a $39.00 price target (down from $41.00) on shares of Viacom in a research note on Friday, September 30th. Two analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $43.18.
Shares of Viacom (NASDAQ:VIAB) opened at 38.86 on Thursday. The stock has a 50 day moving average of $36.94 and a 200-day moving average of $40.62. The company has a market capitalization of $15.43 billion, a PE ratio of 10.75 and a beta of 1.32. Viacom has a 12-month low of $30.11 and a 12-month high of $53.35.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.31 billion. Viacom had a net margin of 11.52% and a return on equity of 36.21%. Viacom’s revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. Analysts predict 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. Investors of record on Thursday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, December 13th. Viacom’s payout ratio is currently 22.10%.
Hedge funds have recently bought and sold shares of the stock. Carl Domino Inc bought a new stake in Viacom during the second quarter worth approximately $609,000. First Republic Investment Management Inc. raised its stake in Viacom by 7.5% in the first quarter. First Republic Investment Management Inc. now owns 27,153 shares of the company’s stock worth $1,121,000 after buying an additional 1,903 shares during the last quarter. Avalon Advisors LLC raised its stake in Viacom by 1.8% in the first quarter. Avalon Advisors LLC now owns 330,454 shares of the company’s stock worth $13,641,000 after buying an additional 5,918 shares during the last quarter. Royal Bank of Canada raised its stake in Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock worth $44,362,000 after buying an additional 548,080 shares during the last quarter. Finally, Babson Capital Management LLC raised its stake in Viacom by 29.9% in the first quarter. Babson Capital Management LLC now owns 59,100 shares of the company’s stock worth $2,440,000 after buying an additional 13,600 shares during the last quarter. 75.03% 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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