Viacom’s (VIAB) “Neutral” Rating Reaffirmed at Instinet
Other research analysts also recently issued research reports about the company. Wunderlich lowered their target price on Viacom from $65.00 to $56.00 and set a buy rating on the stock in a report on Friday, October 21st. Bank of America Corporation raised Viacom from an underperform rating to a buy rating and increased their target price for the company from $37.00 to $44.00 in a report on Thursday, October 13th. Jefferies Group LLC reissued a buy rating and issued a $44.00 target price on shares of Viacom in a report on Thursday, January 5th. Guggenheim raised Viacom from a neutral rating to a buy rating and set a $48.00 price objective on the stock in a research note on Monday, January 9th. Finally, Drexel Hamilton raised Viacom from a hold rating to a buy rating in a research note on Thursday, February 9th. Four analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and ten have issued a buy rating to the stock. Viacom presently has an average rating of Hold and an average price target of $42.76.
Shares of Viacom (NASDAQ:VIAB) traded down 1.12% during mid-day trading on Friday, reaching $44.16. The firm has a 50-day moving average price of $40.44 and a 200-day moving average price of $38.72. Viacom has a 52 week low of $33.94 and a 52 week high of $46.69. The company has a market cap of $17.53 billion, a P/E ratio of 12.67 and a beta of 1.33.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, February 9th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.20. Viacom had a return on equity of 33.25% and a net margin of 10.94%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. Viacom’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Viacom will post $3.84 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, March 13th. Viacom’s dividend payout ratio is presently 22.92%.
In other news, Director Ronald L. Nelson purchased 20,000 shares of the business’s stock in a transaction on Wednesday, December 14th. The stock was acquired at an average price of $34.80 per share, for a total transaction of $696,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $696,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in Viacom by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,272 shares of the company’s stock valued at $431,000 after buying an additional 890 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in shares of Viacom by 4.3% in the fourth quarter. United Capital Financial Advisers LLC now owns 38,420 shares of the company’s stock worth $1,349,000 after buying an additional 1,575 shares during the period. Round Hill Asset Management bought a new position in shares of Viacom during the fourth quarter worth approximately $920,000. Cigna Investments Inc. New bought a new position in shares of Viacom during the fourth quarter worth approximately $448,000. Finally, Glacier Peak Capital LLC bought a new position in shares of Viacom during the fourth quarter worth approximately $2,812,000. Institutional investors and hedge funds own 76.82% 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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