Viad Corp. (VVI) Cut to “Hold” at Zacks Investment Research
Viad Corp. (NYSE:VVI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad’s services are provided to businesses for use by their customers. Accordingly, the corporation markets its services through retail and financial locations, primarily in the U.S., to numerous trade show organizers and exhibitors, and others. “
Separately, B. Riley reiterated a “buy” rating and issued a $42.00 price target on shares of Viad Corp. in a research note on Wednesday, August 17th.
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Shares of Viad Corp. (NYSE:VVI) opened at 35.35 on Thursday. The company has a 50-day moving average of $36.21 and a 200-day moving average of $32.76. The company has a market cap of $717.07 million, a PE ratio of 38.17 and a beta of 0.93. Viad Corp. has a 1-year low of $25.90 and a 1-year high of $37.85.
Viad Corp. (NYSE:VVI) last released its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.22. The business earned $324.70 million during the quarter, compared to the consensus estimate of $304.90 million. Viad Corp. had a net margin of 1.75% and a return on equity of 6.77%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. Equities analysts forecast that Viad Corp. will post $2.28 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, September 7th. Viad Corp.’s dividend payout ratio is currently 43.48%.
In other Viad Corp. news, Director Robert E. Munzenrider sold 2,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $35.87, for a total value of $71,740.00. Following the completion of the sale, the director now owns 22,106 shares in the company, valued at $792,942.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of VVI. Mason Street Advisors LLC bought a new stake in Viad Corp. during the second quarter worth about $123,000. BlackRock Inc. boosted its stake in Viad Corp. by 184.5% in the second quarter. BlackRock Inc. now owns 4,020 shares of the company’s stock worth $124,000 after buying an additional 2,607 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Viad Corp. during the second quarter worth about $138,000. BNP Paribas Arbitrage SA boosted its stake in Viad Corp. by 112.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,319 shares of the company’s stock worth $196,000 after buying an additional 3,342 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in Viad Corp. during the second quarter worth about $211,000. Institutional investors own 88.32% of the company’s stock.
About Viad Corp.
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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