Wedbush Reiterates “Outperform” Rating for Viacom Inc. (VIA)
Viacom Inc. (NASDAQ:VIA)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report issued on Monday. They presently have a $40.00 price target on the stock, down from their previous price target of $46.00. Wedbush’s price objective would indicate a potential downside of 0.84% from the stock’s current price.
VIA has been the subject of several other reports. FBR & Co reiterated an “outperform” rating and issued a $59.00 price target (down from $67.00) on shares of Viacom in a research note on Tuesday, July 26th. TheStreet lowered shares of Viacom from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Wells Fargo & Co. lowered shares of Viacom from a “market perform” rating to an “underperform” rating in a research note on Monday, July 11th. Brean Capital raised shares of Viacom from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, September 13th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Viacom in a research report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Viacom has a consensus rating of “Hold” and a consensus target price of $48.67.
Shares of Viacom (NASDAQ:VIA) opened at 40.34 on Monday. The stock has a 50 day moving average of $42.17 and a 200 day moving average of $45.21. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 7.77 and a beta of 1.17. Viacom has a 52-week low of $33.88 and a 52-week high of $54.69.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, September 22nd. Viacom’s payout ratio is 15.41%.
A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Viacom by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 91,374 shares of the company’s stock worth $4,243,000 after buying an additional 9,084 shares during the last quarter. Franklin Resources Inc. boosted its stake in Viacom by 7.7% in the first quarter. Franklin Resources Inc. now owns 5,600 shares of the company’s stock valued at $254,000 after buying an additional 400 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Viacom by 7,099.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 532,733 shares of the company’s stock valued at $22,130,000 after buying an additional 525,333 shares during the last quarter. Gabelli Securities Inc. boosted its stake in Viacom by 227.3% in the second quarter. Gabelli Securities Inc. now owns 36,000 shares of the company’s stock valued at $1,671,000 after buying an additional 25,000 shares during the last quarter. Finally, UBS Group AG boosted its stake in Viacom by 77.2% in the first quarter. UBS Group AG now owns 69,180 shares of the company’s stock valued at $3,134,000 after buying an additional 30,136 shares during the last quarter. Institutional investors own 2.18% 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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