Viad Corp. (VVI) Cut to Hold at Zacks Investment Research
According to Zacks, “Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad’s services are provided to businesses for use by their customers. Accordingly, the corporation markets its services through retail and financial locations, primarily in the U.S., to numerous trade show organizers and exhibitors, and others. “
Separately, B. Riley restated a buy rating and issued a $42.00 price objective on shares of Viad Corp. in a research report on Wednesday, August 17th.
Viad Corp. (NYSE:VVI) opened at 35.35 on Thursday. The firm’s 50-day moving average price is $36.14 and its 200 day moving average price is $32.92. Viad Corp. has a 12-month low of $25.90 and a 12-month high of $37.85. The company has a market capitalization of $717.07 million, a price-to-earnings ratio of 38.17 and a beta of 0.92.
Viad Corp. (NYSE:VVI) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.22. Viad Corp. had a net margin of 1.75% and a return on equity of 6.77%. The business earned $324.70 million during the quarter, compared to analysts’ expectations of $304.90 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Viad Corp. will post $2.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, September 7th. Viad Corp.’s dividend payout ratio is currently 43.48%.
In related news, Director Robert E. Munzenrider sold 2,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $35.87, for a total value of $71,740.00. Following the completion of the sale, the director now owns 22,106 shares in the company, valued at approximately $792,942.22. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Teachers Advisors Inc. raised its position in shares of Viad Corp. by 8.4% in the first quarter. Teachers Advisors Inc. now owns 273,577 shares of the company’s stock worth $7,978,000 after buying an additional 21,220 shares during the last quarter. BlackRock Group LTD raised its position in shares of Viad Corp. by 7.1% in the first quarter. BlackRock Group LTD now owns 29,360 shares of the company’s stock worth $857,000 after buying an additional 1,956 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Viad Corp. by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,301,395 shares of the company’s stock worth $37,949,000 after buying an additional 8,991 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Viad Corp. by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 532,623 shares of the company’s stock worth $15,531,000 after buying an additional 3,538 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Viad Corp. by 32.2% in the first quarter. JPMorgan Chase & Co. now owns 266,927 shares of the company’s stock worth $7,783,000 after buying an additional 64,950 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.
About Viad Corp.
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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