Viacom’s (NASDAQ:VIAB) Underperform Rating Reiterated at Royal Bank Of Canada
Viacom Inc. (NASDAQ:VIAB)‘s stock had its “underperform” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued to investors on Wednesday. They presently have a $30.00 target price on the stock, down from their previous target price of $35.00. Royal Bank Of Canada’s target price would indicate a potential downside of 2.50% from the stock’s current price.
VIAB has been the topic of a number of other reports. UBS AG lowered their target price on shares of Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Viacom in a research note on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. Deutsche Bank AG lowered shares of Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Finally, Barclays PLC reiterated a “neutral” rating on shares of Viacom in a research note on Monday. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Viacom presently has a consensus rating of “Hold” and an average price target of $42.73.
Shares of Viacom (VIAB) traded down 2.681% on Wednesday, hitting $29.945. The company had a trading volume of 2,955,159 shares. The stock has a market cap of $12.03 billion, a PE ratio of 9.899 and a beta of 1.57. Viacom has a 12 month low of $29.65 and a 12 month high of $46.72. The company has a 50-day moving average of $34.63 and a 200 day moving average of $39.32.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business posted $1.05 EPS. Viacom’s revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Viacom will post $3.87 EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in VIAB. Columbus Circle Investors purchased a new position in shares of Viacom during the first quarter valued at about $11,720,000. Ledyard National Bank increased its position in shares of Viacom by 579.4% in the first quarter. Ledyard National Bank now owns 3,424 shares of the company’s stock valued at $160,000 after buying an additional 2,920 shares in the last quarter. Granite Investment Advisors LLC purchased a new position in shares of Viacom during the first quarter valued at about $5,311,000. DnB Asset Management AS increased its position in shares of Viacom by 20.1% in the first quarter. DnB Asset Management AS now owns 37,014 shares of the company’s stock valued at $1,726,000 after buying an additional 6,200 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its position in shares of Viacom by 0.3% in the first quarter. Berkshire Asset Management LLC PA now owns 132,265 shares of the company’s stock valued at $6,166,000 after buying an additional 434 shares in the last quarter. 77.38% of the stock is owned by hedge funds and other institutional investors.
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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