UBS AG Cuts Viacom Inc. (NASDAQ:VIAB) Price Target to $45.00
Viacom Inc. (NASDAQ:VIAB) had its price target reduced by stock analysts at UBS AG from $50.00 to $45.00 in a research report issued on Friday, 99wallstreet.com reports. The firm presently has a “buy” rating on the stock. UBS AG’s target price would indicate a potential upside of 48.91% from the company’s previous close.
VIAB has been the topic of several other reports. Royal Bank Of Canada decreased their price target on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Monday, May 15th. Cowen and Company reiterated a “hold” rating and set a $41.00 price target on shares of Viacom in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Viacom from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating on shares of Viacom in a research report on Thursday, July 6th. Finally, Deutsche Bank AG cut shares of Viacom from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.13.
Shares of Viacom (NASDAQ:VIAB) opened at 30.22 on Friday. Viacom has a 1-year low of $30.21 and a 1-year high of $46.72. The firm has a market capitalization of $12.14 billion, a P/E ratio of 9.99 and a beta of 1.57. The stock has a 50 day moving average of $34.80 and a 200-day moving average of $39.46.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 32.45% and a net margin of 11.04%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Viacom will post $3.86 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in VIAB. Torray LLC acquired a new stake in Viacom during the second quarter valued at approximately $7,006,000. Cadence Capital Management LLC purchased a new position in shares of Viacom during the second quarter valued at about $995,000. Boston Private Wealth LLC boosted its position in shares of Viacom by 1.8% in the second quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock valued at $205,000 after buying an additional 108 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Viacom by 0.9% in the second quarter. Jennison Associates LLC now owns 2,645,749 shares of the company’s stock valued at $88,818,000 after buying an additional 23,885 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in shares of Viacom by 99.2% in the second quarter. BB&T Securities LLC now owns 13,479 shares of the company’s stock valued at $452,000 after buying an additional 6,711 shares during the last quarter. Institutional investors own 77.33% of the company’s stock.
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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