Citigroup Inc. Downgrades Viacom Inc. (VIAB) to Sell

Citigroup Inc. downgraded shares of Viacom Inc. (NASDAQ:VIAB) from a neutral rating to a sell rating in a research note issued to investors on Monday, October 9th, MarketBeat.com reports. The brokerage currently has $24.00 target price on the stock, down from their previous target price of $33.00.

Other analysts have also issued research reports about the stock. Cowen and Company reaffirmed a hold rating and set a $41.00 price objective on shares of Viacom in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Viacom from a hold rating to a strong sell rating in a research note on Tuesday, October 3rd. BidaskClub raised shares of Viacom from a sell rating to a hold rating in a research report on Tuesday, August 1st. Morgan Stanley reissued an overweight rating on shares of Viacom in a research report on Thursday, July 6th. Finally, Barclays PLC reissued a neutral rating on shares of Viacom in a research report on Monday, August 7th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Viacom currently has an average rating of Hold and an average price target of $39.54.

Viacom (NASDAQ VIAB) opened at 26.70 on Monday. The company’s 50-day moving average price is $27.10 and its 200-day moving average price is $33.51. Viacom has a 1-year low of $23.45 and a 1-year high of $46.72. The stock has a market cap of $10.74 billion, a P/E ratio of 7.35 and a beta of 1.57.

Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (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 analysts’ expectations of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. Analysts predict that Viacom will post $3.85 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 14th. Viacom’s dividend payout ratio (DPR) is presently 21.98%.

Several institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. lifted its holdings in shares of Viacom by 1.6% during the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after acquiring an additional 54 shares during the period. Wall Street Access Asset Management LLC lifted its holdings in shares of Viacom by 1.1% during the 2nd quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock worth $212,000 after acquiring an additional 70 shares during the period. Cleararc Capital Inc. lifted its holdings in shares of Viacom by 0.9% during the 1st quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock worth $396,000 after acquiring an additional 72 shares during the period. Boston Private Wealth LLC lifted its holdings in shares of Viacom by 1.8% during the 2nd quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock worth $205,000 after acquiring an additional 108 shares during the period. Finally, Moors & Cabot Inc. lifted its holdings in shares of Viacom by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 20,990 shares of the company’s stock worth $703,000 after acquiring an additional 149 shares during the period. 79.17% of the stock is owned by 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.

Analyst Recommendations for Viacom (NASDAQ:VIAB)

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