Viacom Inc. (VIAB) Lifted to “Outperform” at Wedbush
Viacom Inc. (NASDAQ:VIAB) was upgraded by Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $46.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 27.46% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Wunderlich reaffirmed a “buy” rating on shares of Viacom in a report on Sunday, July 10th. FBR & Co reissued a “buy” rating on shares of Viacom in a report on Monday, June 20th. Jefferies Group reissued a “buy” rating and issued a $49.00 target price on shares of Viacom in a report on Thursday, June 23rd. Pivotal Research reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a report on Sunday, July 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $50.00 target price on shares of Viacom in a report on Friday, August 5th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.99.
Shares of Viacom (NASDAQ:VIAB) traded up 0.25% during trading on Monday, hitting $36.09. The company had a trading volume of 4,127,121 shares. Viacom has a 12-month low of $30.11 and a 12-month high of $53.35. The firm has a 50 day moving average of $37.56 and a 200 day moving average of $41.03. The stock has a market cap of $14.32 billion, a PE ratio of 6.95 and a beta of 1.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/viacom-inc-viab-lifted-to-outperform-at-wedbush.html
Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 earnings per share. On average, analysts forecast that Viacom will post $3.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were paid a $0.20 dividend. The ex-dividend date was Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.22%. Viacom’s dividend payout ratio (DPR) is currently 15.41%.
A number of large investors have recently modified their holdings of the stock. Pinkerton Retirement Specialists LLC bought a new position in Viacom during the second quarter valued at $131,000. First Mercantile Trust Co. bought a new position in Viacom during the second quarter valued at $135,000. Hussman Strategic Advisors Inc. bought a new position in Viacom during the second quarter valued at $137,000. Smithfield Trust Co. bought a new position in Viacom during the second quarter valued at $141,000. Finally, Mizuho Asset Management Co. Ltd. boosted its position in Viacom by 90.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,738 shares of the company’s stock valued at $196,000 after buying an additional 2,247 shares in the last quarter. Institutional investors and hedge funds own 76.17% 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.
Receive News & Ratings for Viacom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.