Viacom (VIAB) Upgraded by ValuEngine to Buy
ValuEngine upgraded shares of Viacom (NASDAQ:VIAB) from a hold rating to a buy rating in a report issued on Friday morning.
Several other equities research analysts have also recently weighed in on the company. Citigroup cut Viacom from a neutral rating to a sell rating and decreased their price target for the company from $33.00 to $24.00 in a research note on Monday, October 9th. Wells Fargo & Company cut Viacom from an outperform rating to a market perform rating in a research note on Tuesday, September 5th. Morgan Stanley decreased their price target on Viacom from $42.00 to $38.00 and set an overweight rating for the company in a research note on Friday, October 13th. BMO Capital Markets reissued a hold rating and issued a $30.00 price target on shares of Viacom in a research note on Wednesday, October 18th. Finally, Jefferies Group reissued a buy rating and issued a $52.00 price target on shares of Viacom in a research note on Thursday, August 3rd. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $36.62.
Shares of Viacom (NASDAQ VIAB) traded up $0.08 during mid-day trading on Friday, hitting $28.40. The stock had a trading volume of 4,546,723 shares, compared to its average volume of 6,787,991. The firm has a market capitalization of $11,391.92, a PE ratio of 7.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.60. The company has a current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 1.81. Viacom has a 12 month low of $22.13 and a 12 month high of $46.72.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.82%. Viacom’s dividend payout ratio (DPR) is presently 17.13%.
A number of institutional investors have recently made changes to their positions in the business. First Mercantile Trust Co. grew its stake in Viacom by 1.6% in the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after acquiring an additional 54 shares during the period. Wall Street Access Asset Management LLC grew its stake in Viacom by 1.1% in the second quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock valued at $212,000 after acquiring an additional 70 shares during the period. Boston Private Wealth LLC grew its stake in Viacom by 1.8% in the second quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock valued at $205,000 after acquiring an additional 108 shares during the period. Moors & Cabot Inc. grew its stake in Viacom by 0.7% in the second quarter. Moors & Cabot Inc. now owns 20,990 shares of the company’s stock valued at $703,000 after acquiring an additional 149 shares during the period. Finally, Capital Guardian Trust Co. grew its stake in Viacom by 2.7% in the second quarter. Capital Guardian Trust Co. now owns 6,460 shares of the company’s stock valued at $217,000 after acquiring an additional 168 shares during the period. 79.29% of the stock is owned by hedge funds and other institutional investors.
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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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