Zacks Investment Research Lowers Viad Corp (VVI) to Hold
Zacks Investment Research downgraded shares of Viad Corp (NYSE:VVI) from a strong-buy rating to a hold rating in a research report released on Thursday morning.
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 upgraded 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 60.90 on Thursday. The stock has a market cap of $1.24 billion, a PE ratio of 19.21 and a beta of 0.50. The firm has a 50-day moving average of $54.17 and a 200-day moving average of $47.78. Viad Corp has a one year low of $34.40 and a one year high of $61.65.
Viad Corp (NYSE:VVI) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.26. Viad Corp had a net margin of 4.85% and a return on equity of 16.76%. The company had revenue of $364.77 million during the quarter, compared to analyst estimates of $347.35 million. During the same quarter last year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts expect that Viad Corp will post $2.76 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers Viad Corp (VVI) to Hold” was originally reported by Watch List News and is owned by of Watch List News. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.watchlistnews.com/zacks-investment-research-lowers-viad-corp-vvi-to-hold/1600359.html.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.66%. Viad Corp’s dividend payout ratio is currently 12.62%.
Several large investors have recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of Viad Corp by 1.0% in the 1st quarter. Arizona State Retirement System now owns 10,573 shares of the business services provider’s stock valued at $478,000 after purchasing an additional 100 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Viad Corp by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 41,280 shares of the business services provider’s stock valued at $1,950,000 after purchasing an additional 149 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Viad Corp by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,409 shares of the business services provider’s stock valued at $728,000 after purchasing an additional 158 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of Viad Corp by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 14,880 shares of the business services provider’s stock valued at $703,000 after purchasing an additional 177 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Viad Corp by 4.3% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,865 shares of the business services provider’s stock valued at $220,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Viad Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viad Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.