Jefferies Group Reaffirms “Buy” Rating for Viacom Inc. (VIAB)
Viacom Inc. (NASDAQ:VIAB)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a report released on Tuesday. They currently have a $49.00 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 33.26% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus cut shares of Viacom from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $49.00 to $38.00 in a research report on Monday. They noted that the move was a valuation call. Vetr cut shares of Viacom from a “buy” rating to a “hold” rating and set a $44.78 price objective for the company. in a report on Wednesday, August 17th. BTIG Research upgraded shares of Viacom from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Thursday, June 16th. Nomura started coverage on shares of Viacom in a research report on Wednesday, June 22nd. They set a “hold” rating on the stock. Finally, Brean Capital reissued a “hold” rating on shares of Viacom in a research report on Thursday, July 7th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.76.
Shares of Viacom (NASDAQ:VIAB) opened at 36.77 on Tuesday. The company has a 50-day moving average of $41.05 and a 200 day moving average of $41.53. Viacom has a 52-week low of $30.11 and a 52-week high of $53.35. The company has a market capitalization of $14.59 billion, a PE ratio of 7.08 and a beta of 1.43.
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Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The firm earned $3.11 billion during the quarter, compared to the consensus estimate of $3.01 billion. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 earnings per share. Analysts predict that Viacom will post $3.91 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors increased its position in Viacom by 19.3% in the second quarter. Capital World Investors now owns 16,729,443 shares of the company’s stock valued at $693,770,000 after buying an additional 2,710,443 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Viacom by 42.7% in the second quarter. BlackRock Fund Advisors now owns 5,362,157 shares of the company’s stock valued at $222,369,000 after buying an additional 1,604,976 shares during the last quarter. AXA boosted its stake in shares of Viacom by 380.4% in the first quarter. AXA now owns 1,969,784 shares of the company’s stock valued at $81,312,000 after buying an additional 1,559,774 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Viacom by 2.7% in the second quarter. Capital Research Global Investors now owns 42,454,768 shares of the company’s stock valued at $1,760,599,000 after buying an additional 1,118,815 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Viacom by 4.9% in the second quarter. Vanguard Group Inc. now owns 21,469,806 shares of the company’s stock valued at $890,352,000 after buying an additional 1,007,008 shares during the last quarter. 76.13% of the stock is owned by institutional investors and hedge funds.
Viacom Company Profile
Viacom Inc (Viacom) 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, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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