Wells Fargo & Company Downgrades Viacom Inc. (VIAB) to Market Perform

Viacom Inc. (NASDAQ:VIAB) was downgraded by equities research analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also recently issued reports on VIAB. Zacks Investment Research raised Viacom from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Thursday, July 13th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $48.00 target price on shares of Viacom in a research report on Monday, June 12th. Barclays PLC set a $37.00 target price on Viacom and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 target price (down previously from $52.00) on shares of Viacom in a research report on Wednesday, August 9th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $29.00 target price on shares of Viacom in a research report on Friday, June 16th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. Viacom has an average rating of “Hold” and an average target price of $42.04.

Shares of Viacom (NASDAQ:VIAB) opened at 28.22 on Tuesday. The stock’s 50 day moving average is $31.39 and its 200-day moving average is $37.25. Viacom has a 1-year low of $27.22 and a 1-year high of $46.72. The stock has a market cap of $11.35 billion, a PE ratio of 7.77 and a beta of 1.59.

Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, analysts predict that Viacom will post $3.87 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Sentry Investment Management LLC raised its stake in Viacom by 1.1% during the second quarter. Sentry Investment Management LLC now owns 26,322 shares of the company’s stock worth $884,000 after acquiring an additional 290 shares in the last quarter. Toronto Dominion Bank raised its stake in Viacom by 27.2% during the second 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 in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Viacom during the second quarter worth $795,000. Sterneck Capital Management LLC raised its stake in Viacom by 25.7% during the second 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 in the last quarter. Finally, Financial Partners Capital Management LLC raised its stake in Viacom by 51.7% during the second 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 in the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.

About Viacom

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.

Analyst Recommendations for Viacom (NASDAQ:VIAB)

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