Viacom Inc. (VIAB) Stock Rating Reaffirmed by Needham & Company LLC
Several other equities analysts have also recently issued reports on the company. Sanford C. Bernstein reiterated an underperform rating on shares of Viacom in a research report on Tuesday. Wells Fargo & Company cut Viacom from an outperform rating to a market perform rating in a research report on Tuesday, September 5th. KeyCorp reiterated a hold rating on shares of Viacom in a research report on Friday, August 25th. BidaskClub cut Viacom from a hold rating to a sell rating in a research report on Thursday, August 17th. Finally, BMO Capital Markets reiterated a market perform rating and set a $35.00 target price (down previously from $42.00) on shares of Viacom in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $42.04.
Shares of Viacom (NASDAQ:VIAB) traded up 1.13% during trading on Tuesday, reaching $27.67. The company’s stock had a trading volume of 5,560,552 shares. The company has a 50 day moving average price of $29.74 and a 200 day moving average price of $36.52. The firm has a market capitalization of $11.13 billion, a P/E ratio of 7.61 and a beta of 1.59. Viacom has a 52 week low of $26.65 and a 52 week high of $46.72.
Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Viacom will post $3.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 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 2.89%. The ex-dividend date is Thursday, September 14th. Viacom’s dividend payout ratio is presently 21.98%.
Several institutional investors have recently modified their holdings of VIAB. Johnson Financial Group Inc. purchased a new position in shares of Viacom in the 2nd quarter worth $108,000. First Personal Financial Services raised its position in shares of Viacom by 5.9% in the 2nd quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock worth $110,000 after buying an additional 182 shares during the period. First Mercantile Trust Co. raised its position in shares of Viacom by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after buying an additional 54 shares during the period. Fifth Third Bancorp raised its position in shares of Viacom by 9.4% in the 1st quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after buying an additional 225 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Viacom by 13.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock worth $124,000 after buying an additional 423 shares during the period. 79.17% of the stock is currently owned by institutional investors.
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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