Viacom Inc. (NASDAQ:VIAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Shares of Viacom have underperformed the industry it belongs to in a year. Adding to its woes, the company reported lower-than-expected earnings per share in the fourth quarter of fiscal 2017. Results were hurt by decrease in subscribers on the domestic front. Consequently, affiliate revenues declined 3% to $948 million in the United States. Advertising revenues were flat at $936 million on the domestic front. The company, however, reported better-than-expected revenues in the quarter. Strong growth on the international front buoyed the top line. Foreign currency movements also aided quarterly results.The company's efforts to reduce its debt levels and shareholder-friendly moves are also impressive. “
Other analysts have also recently issued reports about the company. Morgan Stanley cut their price objective on Viacom from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. UBS AG decreased their price target on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Guggenheim reissued a “buy” rating and set a $37.00 price objective (down previously from $40.00) on shares of Viacom in a report on Friday, October 6th. Credit Suisse Group set a $38.00 price objective on Viacom and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Viacom in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.96.
Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.09). The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.23 billion. Viacom had a net margin of 14.13% and a return on equity of 28.95%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 EPS. sell-side analysts expect that Viacom will post 3.84 EPS for the current year.
Several large investors have recently bought and sold shares of the company. First Mercantile Trust Co. grew its stake in shares of Viacom by 1.6% during the 2nd 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. Wall Street Access Asset Management LLC boosted its position in shares of Viacom by 1.1% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock worth $212,000 after buying an additional 70 shares in the last quarter. Boston Private Wealth LLC boosted its position in shares of Viacom by 1.8% in the 2nd quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock worth $205,000 after buying an additional 108 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Viacom by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 20,990 shares of the company’s stock worth $703,000 after buying an additional 149 shares in the last quarter. Finally, Capital Guardian Trust Co. boosted its position in shares of Viacom by 2.7% in the 2nd quarter. Capital Guardian Trust Co. now owns 6,460 shares of the company’s stock worth $217,000 after buying an additional 168 shares in the last quarter. 76.33% of the stock is currently owned by institutional investors and hedge funds.
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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