Barrington Research downgraded shares of Viacom (NASDAQ:VIAB) from an outperform rating to a market perform rating in a research report released on Tuesday, MarketBeat Ratings reports.
Several other research firms have also recently issued reports on VIAB. Piper Jaffray Companies restated a hold rating and set a $40.00 price objective on shares of Viacom in a research report on Tuesday, September 26th. Wells Fargo & Co lowered shares of Viacom from an outperform rating to a market perform rating in a research note on Tuesday, September 5th. Loop Capital lowered their target price on shares of Viacom from $32.00 to $27.00 and set a hold rating for the company in a research note on Friday, November 17th. KeyCorp reaffirmed a hold rating on shares of Viacom in a research note on Friday, November 24th. Finally, Credit Suisse Group set a $38.00 target price on shares of Viacom and gave the stock a buy rating in a research note on Wednesday, November 1st. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $34.86.
Viacom (VIAB) traded down $0.39 during trading on Tuesday, reaching $29.56. 5,323,800 shares of the company traded hands, compared to its average volume of 4,677,600. Viacom has a 52-week low of $22.13 and a 52-week high of $46.72. The firm has a market capitalization of $11,970.00, a PE ratio of 6.34, a P/E/G ratio of 1.06 and a beta of 1.60. The company has a current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 1.81.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Thursday, December 14th. Viacom’s payout ratio is 17.17%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its stake in shares of Viacom by 5.0% in the second quarter. Commonwealth Bank of Australia now owns 121,622 shares of the company’s stock valued at $4,081,000 after purchasing an additional 5,839 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Viacom by 36.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 33,302 shares of the company’s stock worth $1,118,000 after acquiring an additional 8,932 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Viacom by 83.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,200,000 shares of the company’s stock worth $61,248,000 after acquiring an additional 1,000,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Viacom by 1,592.5% in the second quarter. Cubist Systematic Strategies LLC now owns 82,950 shares of the company’s stock worth $2,785,000 after acquiring an additional 78,049 shares during the last quarter. Finally, Strs Ohio lifted its stake in Viacom by 32.7% in the third quarter. Strs Ohio now owns 304,539 shares of the company’s stock worth $8,478,000 after acquiring an additional 75,000 shares during the last quarter. 79.20% of the stock is owned by institutional investors and hedge funds.
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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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