Barclays Reaffirms “Underweight” Rating for Viacom (VIAB)
Viacom (NASDAQ:VIAB)‘s stock had its “underweight” rating reaffirmed by research analysts at Barclays in a report released on Thursday. They currently have a $83.00 price target on the stock, down from their previous price target of $84.00. Barclays’ price target would indicate a potential upside of 2.18% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Maxim Group raised their price target on shares of Viacom from $94.00 to $98.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company downgraded shares of Viacom from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 23rd. Finally, analysts at Morgan Stanley reiterated a “positive” rating on shares of Viacom in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $96.93.
Viacom (NASDAQ:VIAB) traded down 0.54% during mid-day trading on Thursday, hitting $80.79. The stock had a trading volume of 522,428 shares. Viacom has a 52-week low of $77.86 and a 52-week high of $89.76. The stock’s 50-day moving average is $84.1 and its 200-day moving average is $84.96. The company has a market cap of $34.177 billion and a P/E ratio of 14.96.
Viacom (NASDAQ:VIAB) last released its earnings data on Wednesday, August 6th. The company reported $1.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.44 by $0.02. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the company posted $1.21 earnings per share. Viacom’s revenue was down 7.4% compared to the same quarter last year. Analysts expect that Viacom will post $5.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 11th.
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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