Investors Buy Shares of Viacom Inc. (VIAB) on Weakness on Analyst Downgrade
Traders purchased shares of Viacom Inc. (NASDAQ:VIAB) on weakness during trading on Thursday after Macquarie lowered their price target on the stock from $44.00 to $35.00. $35.02 million flowed into the stock on the tick-up and $17.16 million flowed out of the stock on the tick-down, for a money net flow of $17.86 million into the stock. Of all equities tracked, Viacom had the 9th highest net in-flow for the day. Viacom traded down ($0.03) for the day and closed at $35.82
A number of other equities research analysts have also recently commented on VIAB. Vetr cut Viacom from a “sell” rating to a “strong sell” rating and set a $39.00 price target for the company. in a research note on Monday, May 30th. Royal Bank Of Canada reiterated a “sell” rating on shares of Viacom in a research note on Tuesday, May 31st. Jefferies Group reiterated a “buy” rating on shares of Viacom in a research note on Friday, June 10th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Viacom in a research note on Friday, June 10th. Finally, Zacks Investment Research cut Viacom from a “hold” rating to a “sell” rating in a research note on Monday, June 13th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.28.
Large investors have recently bought and sold shares of the stock. Pinkerton Retirement Specialists LLC purchased a new stake in Viacom during the second quarter valued at about $131,000. First Mercantile Trust Co. purchased a new stake in Viacom during the second quarter valued at about $135,000. Hussman Strategic Advisors Inc. purchased a new stake in Viacom during the second quarter valued at about $137,000. Smithfield Trust Co. purchased a new stake in Viacom during the second quarter valued at about $141,000. Finally, IFP Advisors Inc increased its stake in Viacom by 7.1% in the first quarter. IFP Advisors Inc now owns 3,964 shares of the company’s stock valued at $164,000 after buying an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 76.12% of the company’s stock.
The stock’s 50 day moving average is $40.37 and its 200-day moving average is $41.43. The stock has a market cap of $14.21 billion, a PE ratio of 6.90 and a beta of 1.43.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $3.11 billion for 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 revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. Analysts forecast that Viacom Inc. will post $3.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, September 22nd. Viacom’s dividend payout ratio (DPR) is presently 30.83%.
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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