Bank of America Corp. upgraded shares of Viacom Inc. (NASDAQ:VIAB) from an underperform rating to a buy rating in a research report sent to investors on Thursday morning. Bank of America Corp. currently has $44.00 price target on the stock, up from their prior price target of $37.00.
A number of other research analysts also recently commented on VIAB. BTIG Research raised Viacom from a neutral rating to a buy rating and set a $55.00 price target for the company in a report on Thursday, June 16th. Royal Bank Of Canada raised Viacom from an underperform rating to a sector perform rating and increased their price target for the company from $34.00 to $45.00 in a report on Friday, June 17th. Wunderlich reissued a buy rating and issued a $87.00 price target on shares of Viacom in a report on Friday, June 17th. Credit Suisse Group AG reissued a buy rating on shares of Viacom in a report on Friday, June 17th. Finally, Sanford C. Bernstein reissued an underperform rating on shares of Viacom in a report on Friday, June 17th. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twelve have given a buy rating to the company’s stock. Viacom currently has a consensus rating of Hold and an average price target of $43.99.
Viacom (NASDAQ:VIAB) opened at 36.09 on Thursday. Viacom has a 52 week low of $30.11 and a 52 week high of $53.35. The stock has a market capitalization of $14.32 billion, a P/E ratio of 6.95 and a beta of 1.33. The firm has a 50 day moving average price of $37.42 and a 200 day moving average price of $41.00.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The firm earned $3.11 billion during the quarter, compared to the consensus estimate of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. Viacom’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 earnings per share. Equities research analysts predict that Viacom will post $3.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. Viacom’s payout ratio is 15.41%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC boosted its stake in Viacom by 45.1% in the first quarter. Sentry Investment Management LLC now owns 21,211 shares of the company’s stock worth $876,000 after buying an additional 6,596 shares during the last quarter. Columbia Partners L L C Investment Management boosted its stake in Viacom by 18.3% in the first quarter. Columbia Partners L L C Investment Management now owns 24,377 shares of the company’s stock worth $1,006,000 after buying an additional 3,764 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Viacom during the first quarter worth about $337,000. Royce & Associates LP boosted its stake in Viacom by 18.5% in the first quarter. Royce & Associates LP now owns 186,000 shares of the company’s stock worth $7,678,000 after buying an additional 29,000 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Viacom during the first quarter worth about $382,000. 76.17% of the stock is owned by hedge funds and other institutional investors.
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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