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.
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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