Viacom Inc. (VIAB) Receives Buy Rating from Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Viacom Inc. (NASDAQ:VIAB) in a research note issued to investors on Thursday morning. They currently have a $52.00 target price on the stock.
VIAB has been the topic of several other research reports. Royal Bank Of Canada cut their price target on Viacom from $35.00 to $30.00 and set an underperform rating on the stock in a research note on Monday, May 15th. Cowen and Company restated a hold rating and set a $41.00 price target on shares of Viacom in a research note on Tuesday, July 11th. BidaskClub upgraded Viacom from a sell rating to a hold rating in a research note on Tuesday, August 1st. Morgan Stanley restated an overweight rating on shares of Viacom in a research note on Thursday, July 6th. Finally, Deutsche Bank AG lowered Viacom from a hold rating to a sell rating in a research note on Wednesday, May 10th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $43.13.
Shares of Viacom (VIAB) opened at 30.22 on Thursday. The company has a market cap of $12.14 billion, a PE ratio of 9.99 and a beta of 1.57. The stock’s 50 day moving average is $34.80 and its 200-day moving average is $39.46. Viacom has a one year low of $30.21 and a one year high of $46.72.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. Viacom had a return on equity of 32.45% and a net margin of 11.04%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. Equities research analysts expect that Viacom will post $3.86 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, September 14th. Viacom’s payout ratio is 21.98%.
Several hedge funds and other institutional investors have recently made changes to their positions in VIAB. BlackRock Inc. boosted its position in shares of Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock valued at $1,001,671,000 after buying an additional 20,807,733 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock valued at $943,269,000 after buying an additional 19,603,597 shares during the last quarter. Oldfield Partners LLP purchased a new position in shares of Viacom during the second quarter valued at about $153,511,000. FMR LLC boosted its position in shares of Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock valued at $434,084,000 after buying an additional 2,467,925 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Viacom by 304.9% in the first quarter. Alliancebernstein L.P. now owns 2,494,611 shares of the company’s stock valued at $116,299,000 after buying an additional 1,878,470 shares during the last quarter. Hedge funds and other 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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