Viacom Inc. (VIAB) Reaches New 12-Month Low at $27.35
Viacom Inc. (NASDAQ:VIAB)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $27.35 and last traded at $27.38, with a volume of 3,807,479 shares traded. The stock had previously closed at $28.52.
VIAB has been the topic of a number of recent research reports. UBS AG dropped their price target on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and set a $52.00 price target on shares of Viacom in a research report on Thursday, August 3rd. Deutsche Bank AG downgraded Viacom from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of Viacom in a research report on Thursday, July 6th. Finally, BidaskClub raised Viacom from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.04.
The stock has a market cap of $11.00 billion, a PE ratio of 7.53 and a beta of 1.59. The stock’s 50 day moving average is $31.91 and its 200-day moving average is $37.59.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.12. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. Viacom’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. Analysts forecast that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. Viacom’s dividend payout ratio is presently 21.98%.
Several hedge funds and other institutional investors have recently modified their holdings of VIAB. Nationwide Fund Advisors boosted its position in shares of Viacom by 2.4% during the first quarter. Nationwide Fund Advisors now owns 96,883 shares of the company’s stock worth $4,517,000 after buying an additional 2,296 shares during the period. Glen Harbor Capital Management LLC boosted its position in shares of Viacom by 1.8% during the first quarter. Glen Harbor Capital Management LLC now owns 10,956 shares of the company’s stock worth $511,000 after buying an additional 198 shares during the period. First Mercantile Trust Co. boosted its position in shares of Viacom by 56.9% during 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 during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Viacom by 10.3% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 29,024 shares of the company’s stock worth $1,353,000 after buying an additional 2,700 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Viacom by 5.6% during the first quarter. Wells Fargo & Company MN now owns 1,072,360 shares of the company’s stock worth $49,993,000 after buying an additional 56,452 shares during the period. Institutional investors and hedge funds own 79.17% 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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