Viacom Inc. (VIAB) Given New $31.00 Price Target at Cowen and Company
Viacom Inc. (NASDAQ:VIAB) had its price target trimmed by Cowen and Company from $41.00 to $31.00 in a research report released on Tuesday, The Fly reports.
Several other research firms also recently weighed in on VIAB. J P Morgan Chase & Co restated an overweight rating and set a $48.00 target price on shares of Viacom in a report on Monday, June 12th. BidaskClub upgraded shares of Viacom from a strong sell rating to a sell rating in a report on Tuesday, June 13th. ValuEngine downgraded shares of Viacom from a buy rating to a hold rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a sell rating and set a $30.00 target price on shares of Viacom in a report on Tuesday, June 6th. Finally, UBS AG dropped their target price on shares of Viacom from $50.00 to $45.00 and set a buy rating for the company in a report on Friday, August 4th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $42.08.
Shares of Viacom (NASDAQ:VIAB) opened at 27.64 on Tuesday. Viacom has a 52 week low of $26.65 and a 52 week high of $46.72. The stock has a market cap of $11.12 billion, a PE ratio of 7.61 and a beta of 1.59. The company’s 50-day moving average is $29.28 and its 200 day moving average is $36.20.
Viacom (NASDAQ:VIAB) last posted 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 firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that Viacom will post $3.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 dividend on an annualized basis and a yield of 2.89%. Viacom’s dividend payout ratio (DPR) is 21.98%.
A number of hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. lifted its position in Viacom by 1.6% during the second 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. Wall Street Access Asset Management LLC lifted its position in Viacom by 1.1% during the second quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock valued at $212,000 after buying an additional 70 shares in the last quarter. Cleararc Capital Inc. lifted its position in Viacom by 0.9% during the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock valued at $396,000 after buying an additional 72 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Viacom by 0.6% during the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock valued at $549,000 after buying an additional 76 shares in the last quarter. Finally, Boston Private Wealth LLC lifted its position in Viacom by 1.8% during 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 in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
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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