Viacom Inc. (VIAB) PT Lowered to $38.00
Viacom Inc. (NASDAQ:VIAB) had its price objective cut by analysts at Morgan Stanley from $42.00 to $38.00 in a report issued on Friday. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 54.66% from the stock’s previous close.
A number of other analysts also recently issued reports on VIAB. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $30.00 target price (down previously from $35.00) on shares of Viacom in a research report on Wednesday, August 9th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $35.00 target price (down previously from $42.00) on shares of Viacom in a research report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $43.00 target price (down previously from $52.00) on shares of Viacom in a research report on Wednesday, August 9th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $40.00 target price on shares of Viacom in a research report on Tuesday, September 26th. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of Viacom in a research report on Monday, August 7th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.92.
Shares of Viacom (NASDAQ:VIAB) traded up 4.619% on Friday, reaching $25.705. The company’s stock had a trading volume of 2,886,916 shares. The company’s 50 day moving average is $27.57 and its 200-day moving average is $34.33. The stock has a market cap of $10.34 billion, a PE ratio of 7.073 and a beta of 1.57. Viacom has a 1-year low of $23.45 and a 1-year high of $46.72.
Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The business 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%. Viacom’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, equities analysts predict that Viacom will post $3.85 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. Fifth Third Bancorp boosted 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 acquiring an additional 225 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Viacom in the second quarter valued at approximately $108,000. First Personal Financial Services boosted its stake in shares of Viacom by 5.9% in the second quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock valued at $110,000 after buying an additional 182 shares during the period. First Mercantile Trust Co. boosted its stake 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 valued at $115,000 after buying an additional 54 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Viacom by 13.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 423 shares during the period. Institutional investors own 79.18% 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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