Today: The Viacom Inc. (VIAB) Upgraded at Bank of America Corp.

The Viacom Inc. (VIAB) Upgraded at Bank of America Corp.

Viacom Inc. (NASDAQ:VIAB) was upgraded by research analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $44.00 target price on the stock, up from their prior target price of $37.00. Bank of America Corp.’s price target suggests a potential upside of 25.28% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Co. raised shares of Viacom from an “underperform” rating to a “market perform” rating in a research report on Thursday. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Viacom in a research report on Wednesday, October 5th. Loop Capital reaffirmed a “hold” rating and issued a $39.00 target price (down previously from $41.00) on shares of Viacom in a research report on Friday, September 30th. Wedbush cut their target price on shares of Viacom from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, September 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $46.00 target price (down previously from $48.00) on shares of Viacom in a research report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have assigned a buy rating to the stock. Viacom presently has a consensus rating of “Hold” and a consensus price target of $43.81.

Shares of Viacom (NASDAQ:VIAB) traded up 0.94% on Thursday, hitting $35.45. The stock had a trading volume of 1,668,267 shares. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 6.82 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 has a 1-year low of $30.11 and a 1-year high of $53.35.

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

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

Large investors 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 valued at $876,000 after buying an additional 6,596 shares during the period. 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 valued at $1,006,000 after buying an additional 3,764 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in Viacom during the first quarter valued at 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 valued at $7,678,000 after buying an additional 29,000 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in Viacom during the first quarter valued at about $382,000. 76.12% of the stock is owned by institutional investors.

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