Viacom Inc. (NASDAQ:VIAB) had its target price lowered by Morgan Stanley from $42.00 to $38.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 54.66% from the company’s current price.
A number of other research firms also recently issued reports on VIAB. Atlantic Securities downgraded Viacom from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $45.00 to $30.00 in a research report on Friday, August 4th. UBS AG lowered their target price on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Sanford C. Bernstein reissued an “underperform” rating and set a $29.00 price target on shares of Viacom in a research report on Friday, June 16th. BidaskClub raised Viacom from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised Viacom from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, July 13th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.92.
Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. Viacom’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share.
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A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Viacom by 28.9% during the 2nd quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock worth $972,330,000 after acquiring an additional 6,496,269 shares during the period. BlackRock Inc. grew its holdings in Viacom by 6.4% during the 2nd quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after acquiring an additional 1,377,520 shares during the period. State Street Corp grew its holdings in Viacom by 1.4% during the 1st quarter. State Street Corp now owns 15,523,719 shares of the company’s stock worth $723,729,000 after acquiring an additional 207,253 shares during the period. FMR LLC grew its holdings in Viacom by 17.3% during the 2nd quarter. FMR LLC now owns 10,918,953 shares of the company’s stock worth $366,551,000 after acquiring an additional 1,607,844 shares during the period. Finally, Capital International Investors grew its holdings in Viacom by 19.1% during the 2nd quarter. Capital International Investors now owns 7,343,721 shares of the company’s stock worth $246,529,000 after acquiring an additional 1,178,200 shares during the period. Hedge funds and other institutional investors own 79.18% 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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