Viacom Inc. (VIAB) Upgraded to “Outperform” by Wedbush
Viacom Inc. (NASDAQ:VIAB) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Monday. The brokerage presently has a $46.00 target price on the stock. Wedbush’s price target suggests a potential upside of 27.78% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Bank of America Corp. raised shares of Viacom from an “underperform” rating to a “buy” rating and boosted their price target for the company from $37.00 to $44.00 in a research report on Thursday. Wells Fargo & Co. raised shares of Viacom from an “underperform” rating to a “market perform” rating in a research report on Thursday. Credit Suisse Group AG reissued an “outperform” rating and issued a $42.00 price target on shares of Viacom in a research report on Wednesday, October 5th. Loop Capital reissued a “hold” rating and issued a $39.00 price target (down from $41.00) on shares of Viacom in a research report on Friday, September 30th. Finally, Barclays PLC reissued an “overweight” rating and issued a $46.00 price target (down from $48.00) on shares of Viacom in a research report on Monday, September 26th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have given a buy rating to the stock. Viacom has a consensus rating of “Hold” and an average target price of $43.99.
Shares of Viacom (NASDAQ:VIAB) opened at 36.00 on Monday. Viacom has a 1-year low of $30.11 and a 1-year high of $53.35. The stock’s 50 day moving average is $37.56 and its 200 day moving average is $41.03. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 6.93 and a beta of 1.33.
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Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The business earned $3.11 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 EPS. On average, equities analysts forecast that Viacom will post $3.64 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were issued a $0.20 dividend. The ex-dividend date was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.22%. Viacom’s dividend payout ratio (DPR) is presently 15.41%.
Several institutional investors have recently made changes to their positions in VIAB. Capital Research Global Investors raised its position in shares of Viacom by 2.7% in the second quarter. Capital Research Global Investors now owns 42,454,768 shares of the company’s stock worth $1,760,599,000 after buying an additional 1,118,815 shares during the period. Vanguard Group Inc. raised its position in shares of Viacom by 4.9% in the second quarter. Vanguard Group Inc. now owns 21,469,806 shares of the company’s stock worth $890,352,000 after buying an additional 1,007,008 shares during the period. Capital World Investors raised its position in shares of Viacom by 19.3% in the second quarter. Capital World Investors now owns 16,729,443 shares of the company’s stock worth $693,770,000 after buying an additional 2,710,443 shares during the period. Bank of New York Mellon Corp raised its position in shares of Viacom by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 8,414,859 shares of the company’s stock worth $348,963,000 after buying an additional 261,769 shares during the period. Finally, American International Group Inc. raised its position in shares of Viacom by 5.0% in the second quarter. American International Group Inc. now owns 7,754,806 shares of the company’s stock worth $321,592,000 after buying an additional 368,092 shares during the period. Institutional investors own 76.17% of the company’s stock.
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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