Viacom (NASDAQ:VIAB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $37.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 12.53% from the stock’s current price.
According to Zacks, “Shares of Viacom have outperformed its industry in the past three months. Ushering in further good news, the company reported better-than-expected earnings per share in the first quarter of fiscal 2018. Results were aided by the company's strong performance on the international front. International revenues increased 18% and 6% at its two units — Media Networks and Filmed Entertainment, respectively. We are also impressed by Viacom's efforts to revive its fortunes. Moreover, if the merger between Viacom and CBS materialize then the deal might benefit the former with cost synergies, among other factors. However, we remain concerned about the decline in domestic affiliate revenues due to the loss of subscribers. For 2018, the company expects domestic affiliate revenues to decline at the low end of mid-single-digits. Declining domestic advertisement revenues raise concerns as well.”
Several other brokerages have also commented on VIAB. Wells Fargo & Co reaffirmed a “hold” rating on shares of Viacom in a research report on Monday, January 29th. BidaskClub raised shares of Viacom from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Rosenblatt Securities lowered shares of Viacom from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 16th. Barclays set a $33.00 price objective on shares of Viacom and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Finally, ValuEngine lowered shares of Viacom from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.31.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.94 by $0.09. Viacom had a net margin of 15.49% and a return on equity of 26.28%. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Viacom’s revenue for the quarter was down 7.6% compared to the same quarter last year. sell-side analysts anticipate that Viacom will post 3.85 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of VIAB. Thrivent Financial For Lutherans lifted its position in shares of Viacom by 3.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 13,422 shares of the company’s stock worth $450,000 after buying an additional 450 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Viacom by 172.1% in the 2nd quarter. Macquarie Group Ltd. now owns 36,681 shares of the company’s stock worth $1,231,000 after buying an additional 23,200 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Viacom by 391.8% in the 2nd quarter. Janus Henderson Group PLC now owns 201,571 shares of the company’s stock worth $6,767,000 after buying an additional 160,584 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Viacom by 36.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 33,302 shares of the company’s stock worth $1,118,000 after buying an additional 8,932 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Viacom in the 2nd quarter worth about $795,000. Institutional investors own 78.69% 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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