Viacom Inc. (NASDAQ:VIAB) Short Interest Up 7.9% in July
Viacom Inc. (NASDAQ:VIAB) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 19,341,561 shares, an increase of 7.9% from the July 14th total of 17,920,792 shares. Based on an average trading volume of 5,006,507 shares, the days-to-cover ratio is presently 3.9 days.
A number of analysts have commented on the company. Barclays PLC reaffirmed a “neutral” rating on shares of Viacom in a research report on Monday. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $30.00 price target (down previously from $35.00) on shares of Viacom in a research report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price target (down previously from $52.00) on shares of Viacom in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $35.00 price target (down previously from $42.00) on shares of Viacom in a research report on Wednesday. Finally, Atlantic Securities cut Viacom from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $45.00 to $30.00 in a research report on Friday, August 4th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Viacom currently has a consensus rating of “Hold” and a consensus target price of $42.14.
Shares of Viacom (VIAB) opened at 30.07 on Friday. Viacom has a 12-month low of $29.65 and a 12-month high of $46.72. The firm has a market capitalization of $12.09 billion, a PE ratio of 8.27 and a beta of 1.57. The company has a 50-day moving average price of $34.12 and a 200 day moving average price of $39.06.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. On average, equities analysts expect that Viacom will post $3.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 annualized dividend and a yield of 2.66%. Viacom’s dividend payout ratio is currently 21.98%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wetherby Asset Management Inc. boosted its position in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock worth $335,000 after buying an additional 53 shares during the period. First Mercantile Trust Co. boosted its position in shares of Viacom by 1.6% in the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after buying an additional 54 shares during the period. Cleararc Capital Inc. boosted its position in shares of Viacom by 0.9% in the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock worth $396,000 after buying an additional 72 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Viacom by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock worth $549,000 after buying an additional 76 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of Viacom by 0.5% in the first quarter. Suntrust Banks Inc. now owns 21,318 shares of the company’s stock worth $991,000 after buying an additional 106 shares during the period. 77.38% of the stock is owned by institutional investors.
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Viacom Company Profile
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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