Viacom Inc. (VIAB) Earns Underperform Rating from Sanford C. Bernstein
Viacom Inc. (NASDAQ:VIAB)‘s stock had its “underperform” rating reiterated by investment analysts at Sanford C. Bernstein in a report released on Tuesday.
Several other brokerages also recently issued reports on VIAB. Zacks Investment Research upgraded shares of Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, July 13th. J P Morgan Chase & Co restated an “overweight” rating and set a $48.00 price objective on shares of Viacom in a research report on Monday, June 12th. Barclays PLC set a $37.00 price objective on shares of Viacom and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Wells Fargo & Company downgraded shares of Viacom from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 5th. Finally, Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective (down from $52.00) on shares of Viacom in a research report on Wednesday, August 9th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. Viacom has a consensus rating of “Hold” and a consensus target price of $42.04.
Shares of Viacom (NASDAQ:VIAB) traded up 1.13% during trading on Tuesday, reaching $27.67. The company had a trading volume of 5,560,552 shares. Viacom has a 12 month low of $26.65 and a 12 month high of $46.72. The firm has a 50 day moving average price of $29.74 and a 200 day moving average price of $36.52. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 7.61 and a beta of 1.59.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Analysts predict that Viacom will post $3.87 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of VIAB. Fifth Third Bancorp lifted its holdings in shares of Viacom by 9.4% during the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after purchasing an additional 225 shares during the period. First Personal Financial Services lifted its holdings in shares of Viacom by 998.2% during the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock worth $144,000 after purchasing an additional 2,805 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Viacom during the second quarter worth $108,000. First Mercantile Trust Co. lifted its holdings in shares of Viacom by 1.6% during the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after purchasing an additional 54 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Viacom by 13.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock worth $124,000 after purchasing an additional 423 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.
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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