Viacom Lowered to “Neutral” at B. Riley (VIAB)
Viacom (NASDAQ:VIAB) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Shares of Viacom (NASDAQ:VIAB) opened at 80.10 on Thursday. Viacom has a 52 week low of $47.61 and a 52 week high of $81.68. The stock’s 50-day moving average is $77.12 and its 200-day moving average is $68.30. The company has a market cap of $38.202 billion and a P/E ratio of 18.06.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.29. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the company posted $0.97 earnings per share. Viacom’s revenue was up 13.9% compared to the same quarter last year. Analysts expect that Viacom will post $4.61 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Viacom (NASDAQ:VIAB) in a research note to investors on Friday, August 23rd. They now have a $84.00 price target on the stock. Separately, analysts at UBS AG reiterated a “hold” rating on shares of Viacom (NASDAQ:VIAB) in a research note to investors on Thursday, August 22nd. They now have a $79.00 price target on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of Viacom (NASDAQ:VIAB) from $95.00 to $92.00 in a research note to investors on Thursday, August 22nd. They now have a “not rated” rating on the stock.
Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Viacom has an average rating of “Hold” and an average target price of $74.76.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, September 11th.
Viacom Inc (NASDAQ:VIAB) is an entertainment content company that connects with audiences through compelling content across television, motion picture, online and mobile platforms in over 160 countries and territories.
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