Investors Buy Shares of Viacom Inc. (VIAB) on Weakness
Investors purchased shares of Viacom Inc. (NASDAQ:VIAB) on weakness during trading on Wednesday. $35.71 million flowed into the stock on the tick-up and $13.52 million flowed out of the stock on the tick-down, for a money net flow of $22.19 million into the stock. Of all stocks tracked, Viacom had the 17th highest net in-flow for the day. Viacom traded down ($0.26) for the day and closed at $29.82
VIAB has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Thursday, July 13th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Viacom in a research note on Monday, June 12th. Barclays PLC set a $37.00 price objective on shares of Viacom and gave the company an “equal weight” rating in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price objective (down previously from $52.00) on shares of Viacom in a research note on Wednesday, August 9th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $29.00 price objective on shares of Viacom in a research note on Friday, June 16th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $42.14.
The company’s 50 day moving average price is $33.77 and its 200-day moving average price is $38.79. The stock has a market capitalization of $11.99 billion, a P/E ratio of 8.21 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. Equities research analysts anticipate that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. Viacom’s payout ratio is currently 21.98%.
Hedge funds have recently added to or reduced their stakes in the stock. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in Viacom by 15.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock valued at $103,000 after buying an additional 300 shares during the last quarter. Fifth Third Bancorp increased its stake in Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock valued at $122,000 after buying an additional 225 shares during the last quarter. First Personal Financial Services increased its stake in Viacom by 998.2% in the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock valued at $144,000 after buying an additional 2,805 shares during the last quarter. Whittier Trust Co. increased its stake in Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock valued at $149,000 after buying an additional 1,425 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Viacom during the second quarter valued at $108,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.
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Viacom Company Profile
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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