Wells Fargo & Co. upgraded shares of Viacom Inc. (NASDAQ:VIAB) from an underperform rating to a market perform rating in a research note released on Thursday morning.
Other equities research analysts have also recently issued research reports about the stock. Brean Capital reaffirmed a hold rating on shares of Viacom in a research note on Thursday, September 8th. Vetr raised shares of Viacom from a sell rating to a hold rating and set a $42.50 price objective for the company in a research note on Tuesday, August 2nd. Jefferies Group reaffirmed a buy rating on shares of Viacom in a research note on Thursday, August 11th. Wedbush cut their price objective on shares of Viacom from $44.00 to $40.00 and set a neutral rating for the company in a research note on Tuesday, September 27th. Finally, Wunderlich reaffirmed a buy rating on shares of Viacom in a research note on Sunday, July 10th. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $43.99.
Shares of Viacom (NASDAQ:VIAB) opened at 36.09 on Thursday. Viacom has a 12-month low of $30.11 and a 12-month high of $53.35. The firm has a market capitalization of $14.32 billion, a PE ratio of 6.95 and a beta of 1.33. The firm has a 50-day moving average of $37.42 and a 200-day moving average of $41.00.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The business earned $3.11 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company earned $1.47 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that Viacom will post $3.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, September 22nd. Viacom’s payout ratio is 15.41%.
A number of large investors have recently added to or reduced their stakes in the company. Pinkerton Retirement Specialists LLC purchased a new stake in Viacom during the second quarter worth approximately $131,000. First Mercantile Trust Co. purchased a new stake in Viacom during the second quarter worth approximately $135,000. Hussman Strategic Advisors Inc. purchased a new stake in Viacom during the second quarter worth approximately $137,000. Smithfield Trust Co. purchased a new stake in Viacom during the second quarter worth approximately $141,000. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in Viacom by 90.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,738 shares of the company’s stock worth $196,000 after buying an additional 2,247 shares during the last quarter. Institutional investors own 76.17% of the company’s stock.