Morgan Stanley Cuts Viacom Inc. (VIAB) Price Target to $38.00

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.

Analyst Recommendations for Viacom (NASDAQ:VIAB)

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