Viacom’s (VIAB) Hold Rating Reiterated at Needham & Company LLC

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.

Analyst Recommendations for Viacom (NASDAQ:VIAB)

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