Viacom Inc. (VIAB) Rating Lowered to Underweight at Atlantic Securities
Viacom Inc. (NASDAQ:VIAB) was downgraded by analysts at Atlantic Securities from a “neutral” rating to an “underweight” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $30.00 target price on the stock, down from their prior target price of $45.00. Atlantic Securities’ price target would indicate a potential downside of 2.50% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of Viacom in a report on Monday, April 17th. Rosenblatt Securities reaffirmed an “underweight” rating on shares of Viacom in a research report on Friday, April 14th. BidaskClub cut shares of Viacom from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada dropped their target price on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating for the company in a research report on Friday, May 5th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $40.00 target price on shares of Viacom in a research report on Sunday, April 23rd. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.43.
Viacom (VIAB) opened at 30.77 on Friday. The company has a 50-day moving average of $34.63 and a 200 day moving average of $39.32. Viacom has a 12-month low of $30.21 and a 12-month high of $46.72. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 10.17 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. Equities analysts expect that Viacom will post $3.87 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the company. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Viacom by 15.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock worth $103,000 after buying an additional 300 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after buying an additional 225 shares in the last quarter. First Personal Financial Services raised its stake in shares of Viacom by 998.2% in the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock worth $144,000 after buying an additional 2,805 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock worth $149,000 after buying an additional 1,425 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in shares of Viacom by 56.9% in the first quarter. First Mercantile Trust Co. now owns 3,374 shares of the company’s stock worth $157,000 after buying an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.
Viacom Company Profile
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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