Viacom Inc. (VIAB) Price Target Cut to $65.00 by Analysts at Wunderlich
Viacom Inc. (NASDAQ:VIAB) had its target price lowered by equities research analysts at Wunderlich from $82.00 to $65.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the stock. Wunderlich’s target price suggests a potential upside of 79.76% from the stock’s previous close.
A number of other equities research analysts also recently commented on VIAB. Zacks Investment Research upgraded Viacom from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Vetr downgraded Viacom from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a report on Tuesday, May 24th. Jefferies Group reiterated a “buy” rating on shares of Viacom in a report on Tuesday, May 24th. Royal Bank Of Canada reiterated a “sell” rating on shares of Viacom in a report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Viacom in a report on Friday, June 10th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.03.
Viacom (NASDAQ:VIAB) traded down 0.39% during mid-day trading on Wednesday, hitting $36.02. 6,885,229 shares of the stock were exchanged. Viacom has a one year low of $30.11 and a one year high of $53.35. The company has a 50-day moving average price of $40.82 and a 200-day moving average price of $41.51. The company has a market cap of $14.29 billion, a P/E ratio of 6.93 and a beta of 1.43.
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Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Viacom will post $3.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Thursday, September 22nd. Viacom’s dividend payout ratio is 30.83%.
Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock worth $44,362,000 after buying an additional 548,080 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Viacom by 2.8% in the first quarter. Legal & General Group Plc now owns 1,555,673 shares of the company’s stock worth $64,209,000 after buying an additional 42,350 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Viacom by 120.5% in the first quarter. Nuveen Asset Management LLC now owns 728,866 shares of the company’s stock worth $30,087,000 after buying an additional 398,300 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Viacom by 0.5% in the first quarter. Geode Capital Management LLC now owns 2,908,135 shares of the company’s stock worth $119,812,000 after buying an additional 14,321 shares in the last quarter. Finally, AlphaOne Investment Services LLC raised its stake in shares of Viacom by 113.0% in the first quarter. AlphaOne Investment Services LLC now owns 82,000 shares of the company’s stock worth $3,385,000 after buying an additional 43,500 shares in the last quarter. 76.12% 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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