Wedbush upgraded shares of Viacom Inc. (NASDAQ:VIAB) from a neutral rating to an outperform rating in a research note issued to investors on Monday. The brokerage currently has $46.00 price objective on the stock.
VIAB has been the subject of a number of other research reports. Credit Suisse Group AG restated an outperform rating and set a $42.00 price objective on shares of Viacom in a report on Wednesday, October 5th. Brean Capital restated a hold rating on shares of Viacom in a report on Thursday, September 8th. Telsey Advisory Group cut Viacom from an outperform rating to a market perform rating and dropped their price objective for the company from $51.00 to $47.00 in a report on Friday, August 26th. Wells Fargo & Co. upgraded Viacom from an underperform rating to a market perform rating in a report on Thursday, October 13th. Finally, FBR & Co restated an outperform rating and set a $57.00 price objective on shares of Viacom in a report on Tuesday, August 23rd. 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’s stock. The company presently has an average rating of Hold and a consensus target price of $43.99.
Shares of Viacom (NASDAQ:VIAB) traded up 0.47% during mid-day trading on Monday, reaching $36.26. The company’s stock had a trading volume of 301,672 shares. The stock has a market capitalization of $14.38 billion, a P/E ratio of 6.98 and a beta of 1.33. The company’s 50-day moving average price is $37.42 and its 200-day moving average price is $41.00. Viacom has a 12-month low of $30.11 and a 12-month high of $53.35.
Viacom (NASDAQ:VIAB) last announced its 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. The firm earned $3.11 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 EPS. On average, equities research analysts forecast that Viacom will post $3.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.22%. Viacom’s payout ratio is currently 15.41%.
Several institutional investors have recently made changes to their positions in VIAB. Pinkerton Retirement Specialists LLC purchased a new position in shares of Viacom during the second quarter worth approximately $131,000. First Mercantile Trust Co. bought a new stake in Viacom during the second quarter valued at approximately $135,000. Hussman Strategic Advisors Inc. bought a new stake in Viacom during the second quarter valued at approximately $137,000. Smithfield Trust Co. bought a new stake in Viacom during the second quarter valued at 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 valued at $196,000 after buying an additional 2,247 shares in the last quarter. 76.17% of the stock is owned by institutional investors and hedge funds.
Viacom Company Profile