Viacom Inc. (VIAB) Downgraded by Guggenheim to Neutral
Viacom Inc. (NASDAQ:VIAB) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat reports. They currently have a $25.00 price target on the stock. Guggenheim’s price objective would indicate a potential downside of 3.85% from the stock’s current price.
Several other equities research analysts have also issued reports on VIAB. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $29.00 price objective on shares of Viacom in a research note on Friday, June 16th. BidaskClub lowered shares of Viacom from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. Cowen and Company reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Viacom in a research note on Tuesday, July 11th. Finally, Zacks Investment Research raised shares of Viacom from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Thursday, July 13th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. Viacom currently has a consensus rating of “Hold” and an average target price of $39.92.
Viacom (NASDAQ:VIAB) opened at 26.00 on Thursday. Viacom has a 52 week low of $23.45 and a 52 week high of $46.72. The firm’s 50 day moving average price is $27.44 and its 200-day moving average price is $34.12. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 7.15 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued 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. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Viacom will post $3.85 EPS for the current year.
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A number of hedge funds have recently added to or reduced their stakes in VIAB. Ameriprise Financial Inc. increased its holdings in Viacom by 37.5% in the 1st quarter. Ameriprise Financial Inc. now owns 178,233 shares of the company’s stock valued at $8,316,000 after buying an additional 48,608 shares during the period. Blair William & Co. IL increased its holdings in Viacom by 7.9% in the 1st quarter. Blair William & Co. IL now owns 7,347 shares of the company’s stock valued at $320,000 after buying an additional 538 shares during the period. Teachers Advisors LLC increased its holdings in Viacom by 38.9% in the 1st quarter. Teachers Advisors LLC now owns 2,801,637 shares of the company’s stock valued at $130,612,000 after buying an additional 784,230 shares during the period. Ngam Advisors L.P. increased its holdings in Viacom by 4.3% in the 1st quarter. Ngam Advisors L.P. now owns 17,433 shares of the company’s stock valued at $813,000 after buying an additional 720 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Viacom by 9.4% in the 1st quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock valued at $122,000 after buying an additional 225 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
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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