Viacom’s (VIAB) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of Viacom Inc. (NASDAQ:VIAB) in a research report released on Wednesday. BMO Capital Markets currently has a $35.00 price target on the stock, down from their prior price target of $42.00.

Other equities analysts also recently issued reports about the stock. J P Morgan Chase & Co restated an overweight rating and issued a $48.00 price target on shares of Viacom in a research note on Monday, June 12th. Jefferies Group LLC restated a buy rating and issued a $52.00 price target on shares of Viacom in a research note on Monday, April 17th. BidaskClub downgraded shares of Viacom from a sell rating to a strong sell rating in a research note on Wednesday, July 5th. Sanford C. Bernstein restated an underperform rating and issued a $29.00 price target on shares of Viacom in a research note on Friday, June 16th. Finally, Rosenblatt Securities restated an underweight rating on shares of Viacom in a research note on Friday, April 14th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $42.14.

Viacom (NASDAQ VIAB) traded down 0.33% during trading on Wednesday, hitting $30.07. 4,778,091 shares of the stock were exchanged. The firm has a 50-day moving average of $34.25 and a 200-day moving average of $39.12. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 8.27 and a beta of 1.57. Viacom has a 52 week low of $29.65 and a 52 week high of $46.72.

Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company posted $1.05 earnings per share. Viacom’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Viacom will post $3.87 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. Viacom’s dividend payout ratio (DPR) is currently 21.98%.

Several hedge funds and other institutional investors have recently bought and sold shares of VIAB. BlackRock Inc. boosted its position in Viacom by 6.4% in the second quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after buying an additional 1,377,520 shares during the period. Wellington Management Group LLP boosted its position in Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after buying an additional 19,603,597 shares during the period. State Street Corp boosted its position in Viacom by 1.4% in the first quarter. State Street Corp now owns 15,523,719 shares of the company’s stock worth $723,729,000 after buying an additional 207,253 shares during the period. FMR LLC boosted its position in Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock worth $434,084,000 after buying an additional 2,467,925 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Viacom by 23.4% in the first quarter. TIAA CREF Investment Management LLC now owns 4,752,876 shares of the company’s stock worth $221,579,000 after buying an additional 900,264 shares during the period. 77.38% of the stock is owned by hedge funds and other institutional investors.

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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