BMO Capital Markets Trims Viacom (VIAB) Target Price to $33.00

Viacom (NASDAQ:VIAB) had its price target dropped by investment analysts at BMO Capital Markets from $34.00 to $33.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 15.91% from the company’s previous close.

A number of other brokerages also recently issued reports on VIAB. ValuEngine raised Viacom from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of Viacom from a “sell” rating to a “hold” rating in a report on Saturday, February 9th. BidaskClub lowered shares of Viacom from a “sell” rating to a “strong sell” rating in a report on Thursday, February 14th. Barrington Research reissued a “buy” rating and set a $35.00 price objective on shares of Viacom in a report on Tuesday, February 5th. Finally, Royal Bank of Canada raised shares of Viacom from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $31.00 to $36.00 in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $34.47.

Shares of VIAB stock opened at $28.47 on Thursday. The firm has a market cap of $11.34 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.07 and a current ratio of 1.29. Viacom has a 12-month low of $23.31 and a 12-month high of $34.44.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.06 billion. Viacom had a return on equity of 22.60% and a net margin of 12.63%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, analysts predict that Viacom will post 4.12 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc raised its position in shares of Viacom by 1.6% in the third quarter. Vanguard Group Inc now owns 38,037,506 shares of the company’s stock worth $1,284,147,000 after acquiring an additional 585,381 shares during the period. BlackRock Inc. raised its position in shares of Viacom by 0.8% in the first quarter. BlackRock Inc. now owns 27,794,121 shares of the company’s stock worth $780,179,000 after acquiring an additional 215,824 shares during the period. AQR Capital Management LLC raised its position in shares of Viacom by 40.5% in the first quarter. AQR Capital Management LLC now owns 10,680,153 shares of the company’s stock worth $294,131,000 after acquiring an additional 3,076,039 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Viacom by 3,319.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,573,957 shares of the company’s stock worth $256,000 after acquiring an additional 6,381,702 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Viacom by 10.7% in the first quarter. Geode Capital Management LLC now owns 6,018,342 shares of the company’s stock worth $168,856,000 after acquiring an additional 579,523 shares during the period. 81.38% of the stock is currently owned by institutional investors.

About Viacom

Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.

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