Wunderlich Trims Viacom Inc. (VIAB) Target Price to $65.00
Viacom Inc. (NASDAQ:VIAB) had its price target lowered by stock analysts at Wunderlich from $82.00 to $65.00 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Wunderlich’s price target would suggest a potential upside of 79.76% from the company’s previous close.
Other analysts have also issued research reports about the stock. Vetr lowered shares of Viacom from a “buy” rating to a “hold” rating and set a $44.78 price target on the stock. in a research report on Wednesday, August 17th. BTIG Research raised shares of Viacom from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Thursday, June 16th. Nomura initiated coverage on shares of Viacom in a research report on Wednesday, June 22nd. They set a “hold” rating on the stock. FBR & Co reiterated a “buy” rating on shares of Viacom in a report on Monday, June 20th. Finally, Royal Bank Of Canada upgraded shares of Viacom from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $34.00 to $45.00 in a report on Friday, June 17th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.03.
Viacom (NASDAQ:VIAB) traded down 0.36% during mid-day trading on Wednesday, reaching $36.03. The company’s stock had a trading volume of 6,718,024 shares. The company’s 50-day moving average price is $40.82 and its 200 day moving average price is $41.51. Viacom has a 52 week low of $30.11 and a 52 week high of $53.35. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 6.94 and a beta of 1.43.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.01 billion. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. On average, equities analysts forecast that Viacom will post $3.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.21%. Viacom’s payout ratio is currently 30.83%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. raised its position in shares of Viacom by 1.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 295,542 shares of the company’s stock valued at $12,199,000 after buying an additional 3,261 shares during the last quarter. DnB Asset Management AS raised its stake in Viacom by 84.0% in the first quarter. DnB Asset Management AS now owns 27,814 shares of the company’s stock valued at $1,148,000 after buying an additional 12,700 shares in the last quarter. OLD National Bancorp IN raised its stake in Viacom by 242.6% in the first quarter. OLD National Bancorp IN now owns 19,868 shares of the company’s stock valued at $820,000 after buying an additional 14,068 shares in the last quarter. PGGM Investments raised its stake in Viacom by 2.5% in the first quarter. PGGM Investments now owns 230,024 shares of the company’s stock valued at $9,495,000 after buying an additional 5,579 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in Viacom by 30.4% in the first quarter. Commonwealth Equity Services Inc now owns 24,545 shares of the company’s stock valued at $1,013,000 after buying an additional 5,727 shares in the last quarter. Institutional investors own 76.12% of the company’s stock.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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