Viacom Inc. (VIAB) Cut to “Sell” at Citigroup Inc.

Citigroup Inc. cut shares of Viacom Inc. (NASDAQ:VIAB) from a neutral rating to a sell rating in a research report report published on Monday, MarketBeat.com reports. Citigroup Inc. currently has $24.00 price objective on the stock, down from their prior price objective of $33.00.

VIAB has been the subject of several other reports. UBS AG dropped their price target on Viacom from $50.00 to $45.00 and set a buy rating for the company in a research note on Friday, August 4th. Zacks Investment Research downgraded Viacom from a hold rating to a strong sell rating in a research note on Tuesday, October 3rd. Jefferies Group LLC restated a buy rating and issued a $52.00 price target on shares of Viacom in a research note on Thursday, August 3rd. Guggenheim restated a buy rating and issued a $37.00 price target (down from $40.00) on shares of Viacom in a research note on Friday, October 6th. Finally, BidaskClub upgraded Viacom from a strong sell rating to a sell rating in a research note on Thursday, July 13th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. Viacom has a consensus rating of Hold and a consensus target price of $40.48.

Shares of Viacom (NASDAQ:VIAB) opened at 25.21 on Monday. Viacom has a 52 week low of $25.13 and a 52 week high of $46.72. The company has a 50-day moving average of $27.68 and a 200-day moving average of $34.40. The stock has a market capitalization of $10.14 billion, a P/E ratio of 6.94 and a beta of 1.57.

Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Viacom will post $3.85 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.17%. Viacom’s payout ratio is 21.98%.

Hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. purchased a new stake in Viacom in the second quarter worth $108,000. First Personal Financial Services increased its stake in Viacom by 5.9% in the second quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock worth $110,000 after purchasing an additional 182 shares during the period. First Mercantile Trust Co. increased its stake in Viacom by 1.6% in the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after purchasing an additional 54 shares during the period. Fifth Third Bancorp increased its stake in Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after purchasing an additional 225 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Viacom by 13.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock worth $124,000 after purchasing an additional 423 shares during the period. Institutional investors and hedge funds own 79.18% 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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