Guggenheim Upgrades Viacom (NASDAQ:VIA) to Buy

Viacom (NASDAQ:VIA) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other brokerages have also issued reports on VIA. BidaskClub lowered shares of Viacom from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Viacom currently has an average rating of “Hold” and a consensus price target of $34.00.

Shares of VIA opened at $30.75 on Wednesday. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 8.04 and a beta of 1.25. Viacom has a 12-month low of $27.01 and a 12-month high of $38.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.36 and a quick ratio of 1.15. The company’s fifty day moving average is $35.04.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Viacom by 0.4% during the second quarter. BlackRock Inc. now owns 324,425 shares of the company’s stock valued at $11,063,000 after buying an additional 1,162 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Viacom during the second quarter valued at approximately $316,000. Parametric Portfolio Associates LLC raised its stake in Viacom by 11.0% during the second quarter. Parametric Portfolio Associates LLC now owns 8,249 shares of the company’s stock valued at $281,000 after buying an additional 817 shares in the last quarter. Ossiam acquired a new stake in Viacom during the second quarter valued at approximately $89,000. Finally, Brown Advisory Inc. raised its stake in Viacom by 6.6% during the second quarter. Brown Advisory Inc. now owns 7,995 shares of the company’s stock valued at $272,000 after buying an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Viacom Company Profile

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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