Viacom (NASDAQ:VIAB) Lifted to Buy at Guggenheim

Viacom (NASDAQ:VIAB) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com Automated Import reports. The brokerage presently has a $35.00 price target on the stock, up from their prior price target of $31.00. Guggenheim’s price target would suggest a potential upside of 26.77% from the company’s previous close.

A number of other equities research analysts have also commented on the company. BMO Capital Markets lowered their price target on Viacom from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. TheStreet raised Viacom from a “c+” rating to a “b-” rating in a research report on Friday, April 26th. Macquarie lowered Viacom from an “outperform” rating to a “neutral” rating in a research report on Wednesday. ValuEngine raised Viacom from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, BidaskClub raised Viacom from a “sell” rating to a “hold” rating in a research report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.57.

Shares of NASDAQ:VIAB traded down $1.60 during trading on Wednesday, reaching $27.61. 174,378 shares of the stock were exchanged, compared to its average volume of 4,295,447. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.36. Viacom has a 1-year low of $23.31 and a 1-year high of $34.44. The stock has a fifty day moving average price of $30.49. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 1.03 and a beta of 1.29.

Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 8th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. Viacom had a return on equity of 21.71% and a net margin of 12.68%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. Viacom’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts anticipate that Viacom will post 4.02 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Viacom by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 10,680,153 shares of the company’s stock worth $294,131,000 after purchasing an additional 3,076,039 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Viacom by 836.3% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,850,277 shares of the company’s stock worth $80,007,000 after purchasing an additional 2,545,862 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in Viacom by 41.3% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,579,799 shares of the company’s stock worth $100,485,000 after purchasing an additional 1,046,796 shares during the period. Prudential Financial Inc. boosted its stake in Viacom by 33.6% in the 2nd quarter. Prudential Financial Inc. now owns 3,560,202 shares of the company’s stock worth $106,343,000 after purchasing an additional 895,366 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Viacom by 20.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,147,775 shares of the company’s stock worth $132,310,000 after purchasing an additional 865,520 shares during the period. 78.71% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Viacom (NASDAQ:VIAB)

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