Viacom’s (VIAB) “Buy” Rating Reaffirmed at Guggenheim

Guggenheim restated their buy rating on shares of Viacom, Inc. (NASDAQ:VIAB) in a research note released on Wednesday morning. The brokerage currently has a $50.00 target price on the stock.

A number of other equities analysts also recently issued reports on the company. Jefferies Group LLC restated a buy rating and set a $52.00 price objective on shares of Viacom in a research report on Saturday, March 11th. Needham & Company LLC restated a hold rating on shares of Viacom in a research report on Thursday, February 16th. Instinet restated a neutral rating and set a $45.00 price objective (up from $40.00) on shares of Viacom in a research report on Thursday, February 16th. FBR & Co restated a hold rating and set a $45.00 price objective on shares of Viacom in a research report on Tuesday, February 14th. Finally, Bank of America Corp raised their price objective on Viacom from $44.00 to $52.00 and gave the stock a buy rating in a research report on Friday, February 10th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $44.10.

Analyst Recommendations for Viacom (NASDAQ:VIAB)

Viacom (NASDAQ:VIAB) opened at 44.31 on Wednesday. Viacom has a 52-week low of $33.94 and a 52-week high of $46.69. The firm has a market cap of $17.59 billion, a P/E ratio of 12.71 and a beta of 1.33. The firm’s 50-day moving average price is $43.39 and its 200-day moving average price is $38.94.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.20. Viacom had a return on equity of 33.25% and a net margin of 10.94%. The company earned $3.32 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the company earned $1.18 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts expect that Viacom will post $3.84 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. Viacom’s payout ratio is 22.92%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors boosted its position in shares of Viacom by 47.4% in the third quarter. Capital World Investors now owns 24,658,133 shares of the company’s stock valued at $939,475,000 after buying an additional 7,928,690 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Viacom during the third quarter valued at about $150,310,000. Norges Bank bought a new position in shares of Viacom during the fourth quarter valued at about $113,821,000. Jana Partners LLC bought a new position in shares of Viacom during the third quarter valued at about $105,338,000. Finally, York Capital Management Global Advisors LLC bought a new position in shares of Viacom during the third quarter valued at about $43,272,000. 76.82% of the stock is currently owned by institutional investors.

About Viacom

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.

5 Day Chart for NASDAQ:VIAB

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