Viacom Inc. (VIAB) Shares Up 3.9%
Shares of Viacom Inc. (NASDAQ:VIAB) shot up 3.9% on Thursday . The company traded as high as $43.24 and last traded at $43.01, with a volume of 2,315,263 shares. The stock had previously closed at $41.38.
A number of brokerages have weighed in on VIAB. Pivotal Research reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $52.00) on shares of Viacom in a research report on Thursday, April 28th. Vetr raised Viacom from a “buy” rating to a “strong-buy” rating and set a $43.26 price target for the company in a research report on Monday, April 18th. FBR & Co reaffirmed an “outperform” rating and issued a $51.00 price target on shares of Viacom in a research report on Thursday, April 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Viacom in a research report on Monday, April 11th. Finally, Deutsche Bank AG reduced their price target on Viacom from $38.00 to $36.00 and set a “hold” rating for the company in a research report on Monday, May 2nd. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.86.
The firm’s 50-day moving average price is $42.42 and its 200-day moving average price is $40.59. The company has a market cap of $17.06 billion and a P/E ratio of 7.732.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The firm earned $3 billion during the quarter, compared to the consensus estimate of $2.98 billion. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. On average, analysts forecast that Viacom Inc. will post $4.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.87%.
In other Viacom news, EVP Michael D. Fricklas sold 10,800 shares of the business’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $45.29, for a total transaction of $489,132.00. Following the sale, the executive vice president now owns 5,357 shares of the company’s stock, valued at $242,618.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Several hedge funds have modified their holdings of the company. Sawtooth Asset Management Inc. boosted its stake in shares of Viacom by 195,264.3% in the fourth quarter. Sawtooth Asset Management Inc. now owns 27,351 shares of the company’s stock valued at $1,126,000 after buying an additional 27,337 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Viacom by 8.6% in the fourth quarter. Profund Advisors LLC now owns 31,691 shares of the company’s stock valued at $1,304,000 after buying an additional 2,517 shares in the last quarter. Advantus Capital Management Inc raised its position in Viacom by 2.0% in the fourth quarter. Advantus Capital Management Inc now owns 33,195 shares of the company’s stock valued at $1,366,000 after buying an additional 662 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Viacom during the fourth quarter valued at about $1,478,000. Finally, World Asset Management Inc raised its position in Viacom by 1.0% in the fourth quarter. World Asset Management Inc now owns 41,819 shares of the company’s stock valued at $1,721,000 after buying an additional 408 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.