Viacom Inc. (NASDAQ:VIAB) had its target price reduced by investment analysts at Cowen and Company from $41.00 to $31.00 in a report issued on Tuesday, The Fly reports. Cowen and Company’s price target would indicate a potential upside of 13.47% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Viacom in a research report on Tuesday, September 12th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Viacom in a research report on Tuesday, September 12th. Wells Fargo & Company downgraded shares of Viacom from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 5th. KeyCorp reiterated a “hold” rating on shares of Viacom in a research report on Friday, August 25th. Finally, BidaskClub downgraded shares of Viacom from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the stock. Viacom presently has an average rating of “Hold” and a consensus target price of $41.65.

Shares of Viacom (VIAB) opened at 27.32 on Tuesday. The stock has a market capitalization of $10.99 billion, a PE ratio of 7.52 and a beta of 1.59. The firm has a 50-day moving average of $29.50 and a 200 day moving average of $36.31. Viacom has a 1-year low of $26.65 and a 1-year high of $46.72.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The business 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 firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, equities analysts anticipate that Viacom will post $3.87 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. grew its position in Viacom by 1.6% in the 2nd 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 last quarter. Wall Street Access Asset Management LLC grew its position in Viacom by 1.1% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock worth $212,000 after purchasing an additional 70 shares during the last quarter. Cleararc Capital Inc. grew its position in Viacom by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock worth $396,000 after purchasing an additional 72 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Viacom by 0.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock worth $549,000 after purchasing an additional 76 shares during the last quarter. Finally, Boston Private Wealth LLC grew its position in Viacom by 1.8% in the 2nd quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock worth $205,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 79.18% 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.

The Fly

Analyst Recommendations for Viacom (NASDAQ:VIAB)

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