Viacom’s (VIAB) Buy Rating Reaffirmed at Guggenheim
Viacom Inc. (NASDAQ:VIAB)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a report issued on Friday. They currently have a $37.00 price objective on the stock, down from their previous price objective of $40.00. Guggenheim’s target price suggests a potential upside of 35.53% from the company’s current price.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Viacom from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Thursday, July 13th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $40.00 target price on shares of Viacom in a research report on Tuesday, September 26th. Barclays PLC set a $37.00 target price on Viacom and gave the company an “equal weight” rating in a research report on Friday, August 4th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Viacom in a research report on Monday, June 12th. Finally, Wells Fargo & Company downgraded Viacom from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 5th. Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Viacom presently has an average rating of “Hold” and an average price target of $41.17.
Shares of Viacom (VIAB) traded down 0.84% on Friday, reaching $27.07. The company’s stock had a trading volume of 363,706 shares. Viacom has a 1-year low of $26.65 and a 1-year high of $46.72. The company’s 50 day moving average is $28.00 and its 200-day moving average is $34.94. The stock has a market cap of $10.89 billion, a PE ratio of 7.45 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share. On average, equities analysts predict that Viacom will post $3.86 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sentry Investment Management LLC increased its holdings in Viacom by 1.1% in the second quarter. Sentry Investment Management LLC now owns 26,322 shares of the company’s stock valued at $884,000 after purchasing an additional 290 shares during the period. Toronto Dominion Bank grew its holdings in Viacom by 27.2% during the 2nd quarter. Toronto Dominion Bank now owns 119,287 shares of the company’s stock worth $4,003,000 after acquiring an additional 25,521 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Viacom during the 2nd quarter worth about $795,000. Sterneck Capital Management LLC grew its holdings in Viacom by 25.7% during the 2nd quarter. Sterneck Capital Management LLC now owns 103,614 shares of the company’s stock worth $3,478,000 after acquiring an additional 21,181 shares during the period. Finally, Financial Partners Capital Management LLC grew its holdings in Viacom by 51.7% during the 2nd quarter. Financial Partners Capital Management LLC now owns 217,685 shares of the company’s stock worth $7,308,000 after acquiring an additional 74,205 shares during the period. Institutional investors and hedge funds own 79.18% of the company’s stock.
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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