Viacom Inc. (NASDAQ:VIAB) had its price objective cut by investment analysts at Credit Suisse Group AG from $53.00 to $42.00 in a research report issued to clients and investors on Thursday. The firm currently has an “outperform” rating on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 18.31% from the stock’s previous close.
A number of other research firms also recently weighed in on VIAB. Deutsche Bank AG reaffirmed a “hold” rating and set a $39.00 price target (up from $36.00) on shares of Viacom in a research note on Tuesday, June 21st. Jefferies Group reissued a “buy” rating on shares of Viacom in a report on Friday, June 10th. Pivotal Research lowered Viacom from a “buy” rating to a “hold” rating and lowered their price objective for the company from $52.00 to $47.00 in a report on Thursday, August 4th. FBR & Co reissued an “outperform” rating and set a $57.00 price objective on shares of Viacom in a report on Tuesday, August 23rd. Finally, Wunderlich reissued a “buy” rating and set a $87.00 price objective on shares of Viacom in a report on Friday, June 17th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $44.28.
Shares of Viacom (NASDAQ:VIAB) opened at 35.50 on Thursday. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 6.83 and a beta of 1.43. Viacom has a 52-week low of $30.11 and a 52-week high of $53.35. The company’s 50 day moving average price is $40.14 and its 200 day moving average price is $41.40.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The company earned $3.11 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business earned $1.47 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts forecast that Viacom will post $3.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.25%. Viacom’s payout ratio is currently 30.83%.
Several large investors have recently added to or reduced their stakes in VIAB. Royal Bank of Canada boosted its stake in shares of Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock worth $44,362,000 after buying an additional 548,080 shares during the period. Legal & General Group Plc boosted its stake in shares of Viacom by 2.8% in the first quarter. Legal & General Group Plc now owns 1,555,673 shares of the company’s stock worth $64,209,000 after buying an additional 42,350 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Viacom by 120.5% in the first quarter. Nuveen Asset Management LLC now owns 728,866 shares of the company’s stock worth $30,087,000 after buying an additional 398,300 shares during the period. PGGM Investments boosted its stake in shares of Viacom by 336.8% in the second quarter. PGGM Investments now owns 1,004,717 shares of the company’s stock worth $41,666,000 after buying an additional 774,693 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Viacom by 0.5% in the first quarter. Geode Capital Management LLC now owns 2,908,135 shares of the company’s stock worth $119,812,000 after buying an additional 14,321 shares during the period. Institutional investors own 76.12% of the company’s stock.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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