Trading Report: The Viacom Inc. (VIAB) Raised to “Buy” at Bank of America Corp.

The Viacom Inc. (VIAB) Raised to “Buy” at Bank of America Corp.

Viacom Inc. (NASDAQ:VIAB) was upgraded by equities researchers at Bank of America Corp. from an “underperform” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.

Several other equities analysts have also recently weighed in on VIAB. Wells Fargo & Co. raised shares of Viacom from an “underperform” rating to a “market perform” rating in a research note on Thursday. Vetr cut shares of Viacom from a “buy” rating to a “hold” rating and set a $44.78 target price for the company. in a research note on Wednesday, August 17th. Nomura assumed coverage on shares of Viacom in a research note on Wednesday, June 22nd. They set a “hold” rating for the company. BTIG Research raised shares of Viacom from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, June 16th. Finally, Royal Bank Of Canada raised shares of Viacom from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $34.00 to $45.00 in a research note on Friday, June 17th. Three analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.80.

Viacom (NASDAQ:VIAB) opened at 35.12 on Thursday. Viacom has a 52-week low of $30.11 and a 52-week high of $53.35. The stock has a market cap of $13.93 billion, a PE ratio of 6.76 and a beta of 1.33. The firm has a 50 day moving average of $37.87 and a 200-day moving average of $41.09.

Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. The firm earned $3.11 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 earnings per share. Equities analysts anticipate that Viacom will post $3.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, September 22nd. Viacom’s dividend payout ratio (DPR) is presently 15.41%.

A number of hedge funds have recently added to or reduced their stakes in VIAB. Boston Private Wealth LLC boosted its stake in Viacom by 0.3% in the second quarter. Boston Private Wealth LLC now owns 6,085 shares of the company’s stock worth $252,000 after buying an additional 16 shares during the period. Baird Financial Group Inc. boosted its stake in Viacom by 0.3% in the second quarter. Baird Financial Group Inc. now owns 27,760 shares of the company’s stock worth $1,166,000 after buying an additional 86 shares during the period. Conning Inc. boosted its stake in Viacom by 0.9% in the second quarter. Conning Inc. now owns 12,147 shares of the company’s stock worth $504,000 after buying an additional 110 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Viacom by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,124 shares of the company’s stock worth $295,000 after buying an additional 114 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Viacom by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 8,752 shares of the company’s stock worth $327,000 after buying an additional 142 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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