Viacom (VIAB) Cut to “Market Perform” at Barrington Research

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.

Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.09). Viacom had a return on equity of 28.95% and a net margin of 14.13%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. Viacom’s revenue for the quarter was up 2.9% on a year-over-year basis. research analysts anticipate that Viacom will post 3.77 earnings per share for the current fiscal year.

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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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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