Viad Corp. (NYSE:VVI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The firm presently has a $43.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 14.73% from the company’s previous close.
According to Zacks, “Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad’s services are provided to businesses for use by their customers. Accordingly, the corporation markets its services through retail and financial locations, primarily in the U.S., to numerous trade show organizers and exhibitors, and others. “
Separately, B. Riley restated a “buy” rating and issued a $39.25 target price on shares of Viad Corp. in a research note on Wednesday, July 27th.
Shares of Viad Corp. (NYSE:VVI) opened at 37.48 on Thursday. The firm has a market cap of $760.28 million, a PE ratio of 40.48 and a beta of 1.07. The company has a 50 day moving average price of $36.14 and a 200-day moving average price of $32.25. Viad Corp. has a 12-month low of $25.90 and a 12-month high of $37.85.
Viad Corp. (NYSE:VVI) last issued its earnings results on Thursday, July 28th. The company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.22. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The company earned $324.70 million during the quarter, compared to the consensus estimate of $304.90 million. During the same period in the previous year, the firm posted $1.18 earnings per share. Viad Corp.’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts expect that Viad Corp. will post $2.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. Viad Corp.’s dividend payout ratio (DPR) is presently 43.48%.
In other news, Director Robert E. Munzenrider sold 2,000 shares of Viad Corp. stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $35.87, for a total transaction of $71,740.00. Following the sale, the director now owns 22,106 shares of the company’s stock, valued at $792,942.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Teachers Advisors Inc. boosted its stake in Viad Corp. by 8.4% in the first quarter. Teachers Advisors Inc. now owns 273,577 shares of the company’s stock worth $7,978,000 after buying an additional 21,220 shares during the period. BlackRock Group LTD boosted its stake in Viad Corp. by 7.1% in the first quarter. BlackRock Group LTD now owns 29,360 shares of the company’s stock worth $857,000 after buying an additional 1,956 shares during the period. BlackRock Fund Advisors boosted its stake in Viad Corp. by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,301,395 shares of the company’s stock worth $37,949,000 after buying an additional 8,991 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Viad Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 532,623 shares of the company’s stock worth $15,531,000 after buying an additional 3,538 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Viad Corp. by 32.2% in the first quarter. JPMorgan Chase & Co. now owns 266,927 shares of the company’s stock worth $7,783,000 after buying an additional 64,950 shares during the period. 88.32% of the stock is currently owned by institutional investors.
About Viad Corp.
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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