Zacks: Brokerages Set $42.00 Target Price for Viad Corp. (VVI)
Viad Corp. (NYSE:VVI) has been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Analysts have set a 1 year consensus price objective of $42.00 for the company and are predicting that the company will post $1.54 EPS for the current quarter, according to Zacks. Zacks has also assigned Viad Corp. an industry rank of 154 out of 265 based on the ratings given to its competitors.
VVI has been the topic of several analyst reports. Zacks Investment Research upgraded Viad Corp. from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Thursday, September 29th. B. Riley reiterated a “buy” rating and issued a $42.00 target price on shares of Viad Corp. in a research note on Wednesday, August 17th.
Viad Corp. (NYSE:VVI) opened at 35.35 on Monday. The firm has a market capitalization of $717.07 million, a P/E ratio of 38.17 and a beta of 0.93. Viad Corp. has a 1-year low of $25.90 and a 1-year high of $37.85. The company has a 50-day moving average price of $36.21 and a 200 day moving average price of $32.76.
Viad Corp. (NYSE:VVI) last announced its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.22. Viad Corp. had a return on equity of 6.77% and a net margin of 1.75%. The company had revenue of $324.70 million for the quarter, compared to the consensus estimate of $304.90 million. During the same period last year, the business posted $1.18 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Analysts expect that Viad Corp. will post $2.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a $0.10 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Viad Corp.’s dividend payout ratio (DPR) is presently 43.48%.
In related news, Director Robert E. Munzenrider sold 2,000 shares of Viad Corp. stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $35.87, for a total value of $71,740.00. Following the sale, the director now directly owns 22,106 shares in the company, valued at $792,942.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of VVI. Mason Street Advisors LLC purchased a new position in shares of Viad Corp. during the second quarter valued at about $123,000. BlackRock Inc. boosted its position in shares of Viad Corp. by 184.5% in the second quarter. BlackRock Inc. now owns 4,020 shares of the company’s stock valued at $124,000 after buying an additional 2,607 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Viad Corp. during the second quarter valued at about $138,000. BNP Paribas Arbitrage SA boosted its position in shares of Viad Corp. by 112.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,319 shares of the company’s stock valued at $196,000 after buying an additional 3,342 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Viad Corp. during the second quarter valued at about $211,000. 88.32% of the stock is owned by hedge funds and other institutional investors.
Viad Corp. Company Profile
Viad Corp is an international experiential services company. The Company has operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. The Company conducts its operations through three business segments: the Marketing & Events U.S. Segment (U.S. Segment), the Marketing & Events International Segment (the International Segment) (collectively, the Marketing & Events Group), and the Travel & Recreation Group.
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