Viacom Inc. (VIAB) PT Lowered to $42.00 at Telsey Advisory Group
Viacom Inc. (NASDAQ:VIAB) had its price target trimmed by Telsey Advisory Group from $47.00 to $42.00 in a report released on Thursday morning. The firm currently has a market perform rating on the stock.
VIAB has been the subject of a number of other research reports. Brean Capital reiterated a hold rating on shares of Viacom in a report on Thursday, September 8th. Vetr upgraded Viacom from a sell rating to a hold rating and set a $42.50 price target for the company in a report on Tuesday, August 2nd. Jefferies Group reiterated a buy rating on shares of Viacom in a report on Thursday, August 11th. Wedbush reduced their price target on Viacom from $44.00 to $40.00 and set a neutral rating for the company in a report on Tuesday, September 27th. Finally, Loop Capital restated a hold rating and set a $48.00 price objective (down from $49.00) on shares of Viacom in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $43.18.
Shares of Viacom (NASDAQ:VIAB) opened at 38.86 on Thursday. The stock has a 50 day moving average price of $36.94 and a 200 day moving average price of $40.62. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 10.75 and a beta of 1.32. Viacom has a 1-year low of $30.11 and a 1-year 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 analysts’ consensus estimates of $0.65 by $0.04. Viacom had a return on equity of 36.21% and a net margin of 11.52%. The business earned $3.23 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the company posted $1.54 earnings per share. Viacom’s quarterly revenue was down 14.8% on a year-over-year basis. Analysts forecast that Viacom will post $3.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, December 13th. Viacom’s dividend payout ratio (DPR) is presently 22.10%.
Large investors have recently made changes to their positions in the company. Allstate Corp purchased a new stake in shares of Viacom during the second quarter worth about $4,407,000. Royal Bank of Canada raised its stake in shares of 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 period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Viacom by 0.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 962,657 shares of the company’s stock worth $39,921,000 after buying an additional 4,564 shares during the period. PGGM Investments raised its stake in shares of Viacom by 336.8% in the second quarter. PGGM Investments now owns 1,004,717 shares of the company’s stock worth $41,666,000 after buying an additional 774,693 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Viacom by 2.8% in the first quarter. Legal & General Group Plc now owns 1,555,673 shares of the company’s stock worth $64,209,000 after buying an additional 42,350 shares during the period. 75.03% of the stock is currently owned by institutional investors and hedge funds.
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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