Viacom Inc. (NASDAQ:VIAB) had its price objective lifted by Bank of America Corporation from $44.00 to $52.00 in a research note issued to investors on Friday morning. They currently have a buy rating on the stock.
A number of other research analysts have also weighed in on the stock. Barclays PLC lowered shares of Viacom from an overweight rating to an equal weight rating and set a $45.00 price target on the stock. in a research note on Friday, February 10th. Guggenheim raised their price target on shares of Viacom from $48.00 to $50.00 and gave the company a buy rating in a research note on Friday, February 10th. BMO Capital Markets raised their price target on shares of Viacom from $35.00 to $44.00 and gave the company a market perform rating in a research note on Friday, February 10th. Drexel Hamilton raised shares of Viacom from a hold rating to a buy rating in a research note on Thursday, February 9th. Finally, Barrington Research raised shares of Viacom from a market perform rating to an outperform rating and set a $55.00 price target on the stock in a research note on Thursday, February 9th. Four investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have given a buy rating to the company. Viacom presently has a consensus rating of Hold and an average price target of $42.76.
Viacom (NASDAQ:VIAB) opened at 44.25 on Friday. The firm’s 50 day moving average price is $39.93 and its 200 day moving average price is $38.64. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 12.70 and a beta of 1.33. Viacom has a 12 month low of $33.94 and a 12 month high of $46.69.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, February 9th. The company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.20. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.18 billion. Viacom had a net margin of 10.94% and a return on equity of 33.25%. Viacom’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $1.18 EPS. On average, equities research analysts predict that Viacom will post $3.84 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.81%. Viacom’s dividend payout ratio is presently 22.92%.
In other Viacom news, Director Ronald L. Nelson acquired 20,000 shares of the company’s stock in a transaction on Wednesday, December 14th. The shares were bought at an average cost of $34.80 per share, for a total transaction of $696,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $696,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its position in shares of Viacom by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,340 shares of the company’s stock worth $584,000 after buying an additional 40 shares during the period. Commerce Bank raised its position in shares of Viacom by 1.0% in the third quarter. Commerce Bank now owns 5,856 shares of the company’s stock worth $223,000 after buying an additional 59 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Viacom by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the company’s stock worth $699,000 after buying an additional 83 shares during the period. Cim Investment Mangement Inc. raised its position in shares of Viacom by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 10,199 shares of the company’s stock worth $358,000 after buying an additional 123 shares during the period. Finally, Leisure Capital Management raised its position in shares of Viacom by 1.1% in the third quarter. Leisure Capital Management now owns 11,853 shares of the company’s stock worth $452,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.
Viacom Company Profile
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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