Viacom, Inc. (NASDAQ:VIAB) was downgraded by equities researchers at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday. They presently have a $45.00 price objective on the stock. Barclays PLC’s price target suggests a potential upside of 3.57% from the stock’s previous close.
Several other equities analysts have also weighed in on VIAB. BMO Capital Markets lifted their price objective on Viacom from $35.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday. Guggenheim lifted their price objective on Viacom from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised Viacom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $49.00 in a research note on Thursday, February 9th. Barrington Research raised Viacom from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research note on Thursday, February 9th. Finally, Drexel Hamilton raised Viacom from a “hold” rating to a “buy” rating in a research note on Thursday, February 9th. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.73.
Shares of Viacom (NASDAQ:VIAB) opened at 43.45 on Friday. Viacom has a 1-year low of $31.06 and a 1-year high of $46.69. The firm has a market capitalization of $17.25 billion, a PE ratio of 12.47 and a beta of 1.33. The company has a 50-day moving average of $39.80 and a 200-day moving average of $38.65.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.20. Viacom had a return on equity of 33.25% and a net margin of 10.94%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Viacom will post $3.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. Viacom’s dividend payout ratio (DPR) is 22.92%.
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In other news, Director Ronald L. Nelson acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was acquired at an average price of $34.80 per share, for a total transaction of $696,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $696,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. First New York Securities LLC NY raised its stake in shares of Viacom by 440.0% in the third quarter. First New York Securities LLC NY now owns 2,700 shares of the company’s stock worth $103,000 after buying an additional 2,200 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of Viacom during the second quarter worth about $137,000. Smithfield Trust Co. bought a new stake in shares of Viacom during the second quarter worth about $141,000. SevenBridge Financial Group LLC raised its stake in shares of Viacom by 147.1% in the third quarter. SevenBridge Financial Group LLC now owns 3,434 shares of the company’s stock worth $123,000 after buying an additional 2,044 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of Viacom by 156.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,344 shares of the company’s stock worth $166,000 after buying an additional 2,649 shares during the period. Institutional investors and hedge funds own 76.82% 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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