Viacom Inc. (VIAB) Trading 2.1% Higher
Viacom Inc. (NASDAQ:VIAB) shares traded up 2.1% during mid-day trading on Wednesday . The stock traded as high as $43.85 and last traded at $43.74, with a volume of 4,339,288 shares traded. The stock had previously closed at $42.84.
Several research analysts recently issued reports on the stock. Vetr upgraded shares of Viacom from a “sell” rating to a “hold” rating and set a $42.50 price target for the company in a research note on Tuesday, August 2nd. Pivotal Research reiterated a “buy” rating and issued a $50.00 price target (down from $52.00) on shares of Viacom in a research note on Thursday, April 28th. FBR & Co reiterated an “outperform” rating and issued a $51.00 price target on shares of Viacom in a research note on Thursday, April 21st. Jefferies Group reiterated a “buy” rating on shares of Viacom in a research note on Thursday, August 11th. Finally, Deutsche Bank AG decreased their price target on shares of Viacom from $38.00 to $36.00 and set a “hold” rating for the company in a research note on Monday, May 2nd. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.41.
The company has a market cap of $17.35 billion and a PE ratio of 8.42. The stock’s 50 day moving average is $43.76 and its 200-day moving average is $41.19.
Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 earnings per share. On average, equities analysts expect that Viacom Inc. will post $3.91 EPS for the current year.
In related news, EVP Michael D. Fricklas sold 10,800 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $45.29, for a total transaction of $489,132.00. Following the completion of the transaction, the executive vice president now directly owns 5,357 shares in the company, valued at approximately $242,618.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several institutional investors recently made changes to their positions in VIAB. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Viacom by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,726 shares of the company’s stock valued at $20,857,000 after buying an additional 21,925 shares during the last quarter. American International Group Inc. boosted its position in shares of Viacom by 3,746.7% in the fourth quarter. American International Group Inc. now owns 6,882,543 shares of the company’s stock valued at $283,286,000 after buying an additional 6,703,620 shares during the last quarter. Airain ltd bought a new position in shares of Viacom during the fourth quarter valued at about $3,463,000. KBC Group NV boosted its position in shares of Viacom by 15.0% in the fourth quarter. KBC Group NV now owns 199,132 shares of the company’s stock valued at $8,196,000 after buying an additional 25,933 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Viacom by 20.9% in the fourth quarter. Jennison Associates LLC now owns 1,833,961 shares of the company’s stock valued at $75,486,000 after buying an additional 317,189 shares during the last quarter.
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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