Viacom Inc. (VIAB) Price Target Lowered to $42.00 at Credit Suisse Group AG
Viacom Inc. (NASDAQ:VIAB) had its target price dropped by equities researchers at Credit Suisse Group AG from $53.00 to $42.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group AG’s target price points to a potential upside of 16.50% from the company’s previous close.
Several other research firms also recently issued reports on VIAB. Deutsche Bank AG restated a “hold” rating and set a $39.00 target price (up previously from $36.00) on shares of Viacom in a research report on Tuesday, June 21st. Jefferies Group restated a “buy” rating on shares of Viacom in a research report on Friday, June 10th. Pivotal Research downgraded Viacom from a “buy” rating to a “hold” rating and dropped their target price for the stock from $52.00 to $47.00 in a research report on Thursday, August 4th. FBR & Co restated an “outperform” rating and set a $57.00 target price on shares of Viacom in a research report on Tuesday, August 23rd. Finally, Wunderlich restated a “buy” rating and set a $87.00 target price on shares of Viacom in a research report on Friday, June 17th. 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 stock. The company presently has a consensus rating of “Hold” and an average price target of $44.59.
Viacom (NASDAQ:VIAB) opened at 36.05 on Thursday. The firm’s 50-day moving average price is $40.60 and its 200-day moving average price is $41.47. Viacom has a 1-year low of $30.11 and a 1-year high of $53.35. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 6.94 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, beating the consensus estimate of $1.01 by $0.04. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. Viacom’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts forecast that Viacom will post $3.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.22%. Viacom’s dividend payout ratio (DPR) is presently 30.83%.
A number of hedge funds have recently modified their holdings of the company. Pinkerton Retirement Specialists LLC bought a new stake in shares of Viacom during the second quarter valued at approximately $131,000. First Mercantile Trust Co. acquired a new position in shares of Viacom during the second quarter worth $135,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Viacom during the second quarter worth $137,000. Smithfield Trust Co. acquired a new position in shares of Viacom during the second quarter worth $141,000. Finally, IFP Advisors Inc increased its position in shares of Viacom by 7.1% in the first quarter. IFP Advisors Inc now owns 3,964 shares of the company’s stock worth $164,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.
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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