Viacom Inc. (VIAB) Upgraded to “Market Perform” by Wells Fargo & Co.
Viacom Inc. (NASDAQ:VIAB) was upgraded by Wells Fargo & Co. from an “underperform” rating to a “market perform” rating in a research note issued on Thursday, The Fly reports.
A number of other equities research analysts have also recently issued reports on VIAB. BTIG Research upgraded 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. Royal Bank Of Canada upgraded Viacom from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $34.00 to $45.00 in a report on Friday, June 17th. Wunderlich restated a “buy” rating and set a $87.00 price objective on shares of Viacom in a report on Friday, June 17th. Credit Suisse Group AG restated a “buy” rating on shares of Viacom in a report on Friday, June 17th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Viacom in a report on Friday, June 17th. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have issued a buy rating to the company. Viacom currently has an average rating of “Hold” and a consensus target price of $43.80.
Shares of Viacom (NASDAQ:VIAB) opened at 35.12 on Thursday. Viacom has a 12-month low of $30.11 and a 12-month high of $53.35. The company’s 50-day moving average price is $37.87 and its 200-day moving average price is $41.09. The firm has a market capitalization of $13.93 billion, a PE ratio of 6.76 and a beta of 1.33.
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Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (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 earned $3.11 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Viacom will post $3.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. Viacom’s dividend payout ratio (DPR) is presently 15.41%.
Several institutional investors have recently added to or reduced their stakes in VIAB. Nisa Investment Advisors LLC boosted its position in Viacom by 3.9% in the third quarter. Nisa Investment Advisors LLC now owns 183,444 shares of the company’s stock worth $6,989,000 after buying an additional 6,880 shares during the period. Capstone Asset Management Co. boosted its position in Viacom by 2.3% in the third quarter. Capstone Asset Management Co. now owns 24,412 shares of the company’s stock worth $930,000 after buying an additional 555 shares during the period. Fox Run Management L.L.C. bought a new position in Viacom during the third quarter worth about $438,000. Creative Planning boosted its position in Viacom by 4.1% in the third quarter. Creative Planning now owns 19,551 shares of the company’s stock worth $745,000 after buying an additional 763 shares during the period. Finally, Carl Domino Inc boosted its position in Viacom by 105.3% in the third quarter. Carl Domino Inc now owns 30,155 shares of the company’s stock worth $1,139,000 after buying an additional 15,470 shares during the period. 76.12% of the stock is currently owned by institutional investors.
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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