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Viacom (NASDAQ:VIAB) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

Viacom (NASDAQ:VIAB) opened at 85.12 on Wednesday. Viacom has a one year low of $65.98 and a one year high of $89.27. The stock’s 50-day moving average is $85.37 and its 200-day moving average is $84.87. The company has a market cap of $36.586 billion and a P/E ratio of 16.01.

Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.05 by $0.03. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that Viacom will post $5.50 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, June 11th. This is an increase from Viacom’s previous quarterly dividend of $0.30.

A number of other firms have also recently commented on VIAB. Analysts at Wunderlich raised their price target on shares of Viacom from $103.00 to $119.00 in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Viacom in a research note on Thursday, May 22nd. They now have a $89.00 price target on the stock. Finally, analysts at Hudson Square Research initiated coverage on shares of Viacom in a research note on Monday, May 19th. They set a “buy” rating and a $94.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.63.

Viacom Inc (NASDAQ:VIAB) 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 (apps), games, consumer products, social media and other entertainment content.

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