Viacom (VIAB) PT Raised to $34.00 at BMO Capital Markets

Viacom (NASDAQ:VIAB) had its target price raised by equities research analysts at BMO Capital Markets from $27.00 to $34.00 in a research note issued on Monday. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 3.44% from the company’s previous close.

Several other brokerages have also recently issued reports on VIAB. Loop Capital decreased their price objective on Viacom from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, November 17th. KeyCorp reiterated a “hold” rating on shares of Viacom in a research note on Friday, November 24th. Credit Suisse Group set a $38.00 price objective on Viacom and gave the company a “buy” rating in a research note on Wednesday, November 1st. Pivotal Research reiterated a “hold” rating and issued a $25.00 price objective on shares of Viacom in a research note on Thursday, November 16th. Finally, Royal Bank of Canada upgraded Viacom from an “underperform” rating to a “sector perform” rating and set a $35.00 price objective for the company in a research note on Friday. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.35.

Viacom (NASDAQ VIAB) traded up $0.16 during midday trading on Monday, reaching $32.87. The company’s stock had a trading volume of 7,542,200 shares, compared to its average volume of 5,752,463. The firm has a market cap of $13,640.00, a P/E ratio of 6.57, a P/E/G ratio of 1.13 and a beta of 1.54. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.14 and a current ratio of 1.41. Viacom has a 52 week low of $22.13 and a 52 week high of $46.72.

Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, February 8th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.09. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.14 billion. Viacom had a return on equity of 26.28% and a net margin of 15.49%. Viacom’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 EPS. sell-side analysts anticipate that Viacom will post 3.85 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Roberts Glore & Co. Inc. IL acquired a new position in shares of Viacom in the fourth quarter valued at approximately $270,000. Norinchukin Bank The increased its holdings in shares of Viacom by 7.4% in the fourth quarter. Norinchukin Bank The now owns 28,209 shares of the company’s stock valued at $869,000 after purchasing an additional 1,955 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Viacom by 43.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 56,431 shares of the company’s stock valued at $1,739,000 after purchasing an additional 17,117 shares during the period. American International Group Inc. increased its holdings in shares of Viacom by 253.7% in the fourth quarter. American International Group Inc. now owns 533,177 shares of the company’s stock valued at $16,427,000 after purchasing an additional 382,419 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in Viacom during the fourth quarter worth $291,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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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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