Viacom (VIAB) Cut to “Sell” at Rosenblatt Securities

Viacom (NASDAQ:VIAB) was downgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also issued reports about the stock. Cowen cut their price target on shares of Viacom from $41.00 to $31.00 in a research report on Tuesday, September 19th. Guggenheim reissued a “buy” rating and issued a $37.00 price target (down from $40.00) on shares of Viacom in a research note on Friday, October 6th. Credit Suisse Group set a $38.00 price target on shares of Viacom and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Bank of America decreased their target price on shares of Viacom from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, UBS Group reduced their price target on shares of Viacom from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Seven analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.04.

Shares of Viacom (NASDAQ:VIAB) traded up $2.95 during mid-day trading on Tuesday, reaching $33.76. 12,821,301 shares of the company’s stock were exchanged, compared to its average volume of 5,887,067. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.55 and a quick ratio of 1.30. Viacom has a 1-year low of $22.13 and a 1-year high of $46.72. The company has a market cap of $13,840.00, a PE ratio of 7.24, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60.

Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, November 16th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.09). The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.23 billion. Viacom had a return on equity of 28.95% and a net margin of 14.13%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. analysts forecast that Viacom will post 3.76 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First New York Securities LLC NY lifted its holdings in Viacom by 440.0% during the third quarter. First New York Securities LLC NY now owns 2,700 shares of the company’s stock valued at $103,000 after purchasing an additional 2,200 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in Viacom by 15.8% during the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock valued at $103,000 after purchasing an additional 300 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Viacom during the second quarter valued at $108,000. First Personal Financial Services lifted its holdings in Viacom by 5.9% during the second quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock valued at $110,000 after purchasing an additional 182 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in Viacom by 1.6% during the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after purchasing an additional 54 shares in the last quarter. 79.19% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: This story was published by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/01/16/viacom-viab-cut-to-sell-at-rosenblatt-securities.html.

About Viacom

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.

Analyst Recommendations for Viacom (NASDAQ:VIAB)

Leave a Reply