Viad Corp (NYSE:VVI) Lifted to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Viad Corp (NYSE:VVI) from a hold rating to a strong-buy rating in a report published on Saturday. Zacks Investment Research currently has $57.00 price target on the business services provider’s stock.
According to Zacks, “Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad’s services are provided to businesses for use by their customers. Accordingly, the corporation markets its services through retail and financial locations, primarily in the U.S., to numerous trade show organizers and exhibitors, and others. “
Separately, BidaskClub raised shares of Viad Corp from a buy rating to a strong-buy rating in a report on Monday, July 24th.
Shares of Viad Corp (NYSE:VVI) opened at 54.50 on Friday. The stock’s 50 day moving average is $47.89 and its 200 day moving average is $45.65. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 17.19 and a beta of 0.51. Viad Corp has a 52 week low of $34.40 and a 52 week high of $54.75.
Viad Corp (NYSE:VVI) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.26. Viad Corp had a net margin of 4.85% and a return on equity of 17.17%. The firm had revenue of $364.77 million during the quarter, compared to analysts’ expectations of $347.35 million. During the same period in the previous year, the company earned $1.04 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that Viad Corp will post $2.45 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.73%. Viad Corp’s dividend payout ratio is currently 12.62%.
A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Viad Corp by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 2,240 shares of the business services provider’s stock worth $101,000 after buying an additional 40 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Viad Corp during the first quarter worth approximately $151,000. LS Investment Advisors LLC boosted its stake in shares of Viad Corp by 374.8% in the first quarter. LS Investment Advisors LLC now owns 3,509 shares of the business services provider’s stock worth $159,000 after buying an additional 2,770 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Viad Corp during the first quarter worth approximately $208,000. Finally, Mason Street Advisors LLC boosted its stake in shares of Viad Corp by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,749 shares of the business services provider’s stock worth $215,000 after buying an additional 311 shares in the last quarter. 86.66% of the stock is owned by institutional investors and hedge funds.
Viad Corp Company Profile
Viad Corp is an international experiential services company. The Company operates through two main business groups: GES, which is a live event service provider to some of the visible and influential events and global brands, and Pursuit, which is a collection of destination travel experiences. GES conducts its operations through two geographical segments: GES U.S., which has full-service operations in exhibition market in the United States, including Las Vegas, Nevada; Chicago, Illinois; Orlando, Florida; New York, New York, and Los Angeles, California, and GES International, which had full-service operations at many of the event destinations and venues.
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