Viacom Inc. (VIAB) PT Lowered to $31.00
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.
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.
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