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.
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