Viacom Inc. (NASDAQ:VIAB)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research note issued on Tuesday.
VIAB has been the topic of a number of other research reports. Royal Bank Of Canada dropped their price objective on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a report on Monday, May 15th. Cowen and Company reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Viacom in a report on Tuesday, July 11th. BidaskClub raised shares of Viacom from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Viacom in a report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of Viacom from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 27th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $42.04.
Viacom (NASDAQ VIAB) traded down 0.29% on Tuesday, reaching $27.11. 5,321,278 shares of the company’s stock were exchanged. Viacom has a 1-year low of $26.65 and a 1-year high of $46.72. The stock’s 50 day moving average price is $30.73 and its 200 day moving average price is $36.95. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 7.46 and a beta of 1.59.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.12. The company had revenue of $3.36 billion for 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 firm’s 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. On average, analysts expect that Viacom will post $3.87 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Viacom by 28.9% in the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock worth $972,330,000 after buying an additional 6,496,269 shares during the period. BlackRock Inc. boosted its holdings in shares of Viacom by 6.4% in the second quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after buying an additional 1,377,520 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after buying an additional 19,603,597 shares during the period. State Street Corp boosted its holdings in shares of Viacom by 1.4% in the first quarter. State Street Corp now owns 15,523,719 shares of the company’s stock worth $723,729,000 after buying an additional 207,253 shares during the period. Finally, FMR LLC boosted its holdings in shares of Viacom by 17.3% in the second quarter. FMR LLC now owns 10,918,953 shares of the company’s stock worth $366,551,000 after buying an additional 1,607,844 shares during the period. Institutional investors 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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