Wells Fargo & Co assumed coverage on shares of Viacom (NASDAQ:VIAB) in a research note released on Monday, BenzingaRatingsTable reports. The firm issued an underperform rating and a $23.00 target price on the stock.
VIAB has been the subject of a number of other research reports. Sanford C. Bernstein reduced their price objective on shares of Viacom from $27.00 to $21.00 and set an underperform rating for the company in a research note on Tuesday, September 3rd. Guggenheim reissued a buy rating on shares of Viacom in a research note on Wednesday, September 4th. BidaskClub downgraded shares of Viacom from a hold rating to a sell rating in a research note on Tuesday, August 20th. TheStreet downgraded shares of Viacom from a b- rating to a c+ rating in a research note on Tuesday, August 27th. Finally, Macquarie downgraded shares of Viacom from an outperform rating to a neutral rating and reduced their price objective for the stock from $37.00 to $31.00 in a research note on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $32.71.
Shares of NASDAQ VIAB opened at $24.05 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.36. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.90 and a beta of 1.36. The stock has a 50 day moving average price of $26.06 and a 200 day moving average price of $28.56. Viacom has a 52-week low of $23.31 and a 52-week high of $34.44.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.33 billion. Viacom had a net margin of 12.68% and a return on equity of 21.71%. Viacom’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Analysts forecast that Viacom will post 4.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, September 13th. Viacom’s payout ratio is presently 19.42%.
Several hedge funds have recently modified their holdings of VIAB. Nuveen Asset Management LLC increased its position in shares of Viacom by 487.9% during the second quarter. Nuveen Asset Management LLC now owns 5,170,026 shares of the company’s stock worth $154,429,000 after purchasing an additional 4,290,648 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Viacom by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 10,680,153 shares of the company’s stock valued at $294,131,000 after acquiring an additional 3,076,039 shares during the period. Vanguard Group Inc. increased its position in shares of Viacom by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 41,525,508 shares of the company’s stock valued at $1,240,367,000 after acquiring an additional 1,730,488 shares during the period. Thompson Siegel & Walmsley LLC increased its position in shares of Viacom by 41.3% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,579,799 shares of the company’s stock valued at $100,485,000 after acquiring an additional 1,046,796 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Viacom by 33.6% in the 2nd quarter. Prudential Financial Inc. now owns 3,560,202 shares of the company’s stock valued at $106,343,000 after acquiring an additional 895,366 shares during the period. 76.55% of the stock is currently owned by institutional investors and hedge funds.
Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
Further Reading: Outperform Rating
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