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.
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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