Shares of Viacom, Inc. (NASDAQ:VIAB) saw an uptick in trading volume on Wednesday . 41,683,100 shares were traded during mid-day trading, an increase of 726% from the previous session’s volume of 5,048,493 shares.The stock last traded at $24.22 and had previously closed at $23.47.
A number of brokerages have issued reports on VIAB. Sanford C. Bernstein reduced their price target on shares of Viacom from $27.00 to $21.00 and set an “underperform” rating on the stock in a report on Tuesday, September 3rd. Guggenheim reiterated a “buy” rating on shares of Viacom in a report on Wednesday, September 4th. Barclays reduced their target price on shares of Viacom from $33.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Deutsche Bank upgraded shares of Viacom from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, Macquarie downgraded shares of Viacom from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $31.00 in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.57.
The company has a current ratio of 1.38, a quick ratio of 1.18 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $22.71 and its 200 day moving average is $26.58. The stock has a market capitalization of $9.79 billion, a PE ratio of 5.97, a PEG ratio of 0.82 and a beta of 1.37.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, November 14th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Viacom had a net margin of 12.06% and a return on equity of 20.04%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the company earned $0.99 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that Viacom, Inc. will post 4.22 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Viacom by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 41,525,508 shares of the company’s stock worth $1,240,367,000 after purchasing an additional 1,730,488 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Viacom by 1.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,035,138 shares of the company’s stock valued at $269,880,000 after buying an additional 90,081 shares during the period. Northern Trust Corp boosted its position in Viacom by 1.4% in the 2nd quarter. Northern Trust Corp now owns 5,738,199 shares of the company’s stock valued at $171,401,000 after buying an additional 77,473 shares during the period. Oldfield Partners LLP boosted its position in Viacom by 14.3% in the 3rd quarter. Oldfield Partners LLP now owns 5,280,300 shares of the company’s stock valued at $130,677,000 after buying an additional 659,900 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in Viacom by 487.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,170,026 shares of the company’s stock valued at $154,429,000 after buying an additional 4,290,648 shares during the period. 73.78% of the stock is owned by hedge funds and other institutional investors.
About Viacom (NASDAQ:VIAB)
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.
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