Needham & Company LLC Reiterates Hold Rating for Viacom Inc. (VIAB)
Viacom Inc. (NASDAQ:VIAB)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a report released on Tuesday.
VIAB has been the topic of several other research reports. UBS AG reduced 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 reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a research note on Thursday, August 3rd. BidaskClub raised shares of Viacom from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 13th. Morgan Stanley reissued an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. Finally, Barclays PLC reissued a “neutral” rating on shares of Viacom in a research note on Monday, August 7th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company. Viacom has an average rating of “Hold” and a consensus target price of $42.04.
Viacom (VIAB) opened at 27.91 on Tuesday. The firm has a 50-day moving average of $30.37 and a 200 day moving average of $36.76. Viacom has a one year low of $26.65 and a one year high of $46.72. The company has a market capitalization of $11.22 billion, a P/E ratio of 7.68 and a beta of 1.59.
Viacom (NASDAQ:VIAB) last announced its 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 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 the consensus estimate of $3.29 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Viacom will post $3.87 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of Viacom in the 2nd quarter valued at about $108,000. First Personal Financial Services boosted its holdings in shares of Viacom by 5.9% in the 2nd quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock valued at $110,000 after buying an additional 182 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in shares of Viacom by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after buying an additional 54 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Viacom by 9.4% in the 1st quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock valued at $122,000 after buying an additional 225 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Viacom by 13.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 423 shares in the last quarter. Institutional investors and hedge funds own 79.17% 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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