Viacom Inc. (VIAB) Rating Lowered to Sell at BidaskClub
Viacom Inc. (NASDAQ:VIAB) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
A number of other equities research analysts also recently commented on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $35.00 target price (down from $42.00) on shares of Viacom in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 target price (down from $52.00) on shares of Viacom in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $30.00 target price (down from $35.00) on shares of Viacom in a research report on Wednesday, August 9th. Barclays PLC reiterated a “neutral” rating on shares of Viacom in a research report on Monday, August 7th. Finally, UBS AG decreased their target price on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company. Viacom currently has an average rating of “Hold” and an average price target of $42.04.
Viacom (VIAB) opened at 28.59 on Thursday. The firm has a 50-day moving average price of $33.28 and a 200-day moving average price of $38.56. Viacom has a 52 week low of $28.48 and a 52 week high of $46.72. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 7.87 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. Analysts anticipate that Viacom will post $3.87 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in VIAB. Vanguard Group Inc. raised its stake in shares of Viacom by 28.9% in the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock worth $972,330,000 after buying an additional 6,496,269 shares during the last quarter. BlackRock Inc. raised its stake in shares of Viacom by 6.4% in the second quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after buying an additional 1,377,520 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after buying an additional 19,603,597 shares during the last quarter. State Street Corp raised its stake in shares of Viacom by 1.4% in the first quarter. State Street Corp now owns 15,523,719 shares of the company’s stock worth $723,729,000 after buying an additional 207,253 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Viacom by 17.3% in the second quarter. FMR LLC now owns 10,918,953 shares of the company’s stock worth $366,551,000 after buying an additional 1,607,844 shares during the last quarter. Hedge funds and other institutional investors own 77.96% of the company’s stock.
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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