Viacom, Inc. (VIAB) Rating Increased to Hold at BidaskClub

Viacom, Inc. (NASDAQ:VIAB) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, August 1st.

A number of other brokerages have also recently issued reports on VIAB. Zacks Investment Research upgraded shares of Viacom from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $52.00 target price on shares of Viacom in a research report on Monday, April 17th. J P Morgan Chase & Co restated an “overweight” rating and set a $48.00 target price on shares of Viacom in a research report on Monday, June 12th. Rosenblatt Securities started coverage on shares of Viacom in a research report on Wednesday, April 5th. They set a “neutral” rating and a $45.00 target price for the company. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $29.00 target price on shares of Viacom in a research report on Friday, June 16th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.04.

Viacom (VIAB) opened at 28.59 on Tuesday. Viacom has a 12 month low of $28.48 and a 12 month high of $46.72. The firm has a market cap of $11.50 billion, a P/E ratio of 7.87 and a beta of 1.57. The firm has a 50 day moving average of $33.28 and a 200-day moving average of $38.56.

Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a net margin of 20.45% and a return on equity of 53.78%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts forecast that Viacom will post $3.87 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in Viacom by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,272 shares of the company’s stock valued at $431,000 after buying an additional 890 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Viacom during the fourth quarter valued at about $885,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Viacom during the fourth quarter valued at about $395,000. Macquarie Group Ltd. increased its stake in Viacom by 55.6% in the fourth quarter. Macquarie Group Ltd. now owns 24,325 shares of the company’s stock valued at $853,000 after buying an additional 8,691 shares in the last quarter. Finally, Deane Retirement Strategies Inc. increased its stake in Viacom by 5.4% in the first quarter. Deane Retirement Strategies Inc. now owns 90,223 shares of the company’s stock valued at $4,204,000 after buying an additional 4,644 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.

About Viacom

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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