Viacom (VIAB) Shares Gap Down to $33.76

Shares of Viacom, Inc. (NASDAQ:VIAB) gapped down prior to trading on Wednesday . The stock had previously closed at $34.86, but opened at $33.76. Viacom shares last traded at $31.38, with a volume of 9609500 shares changing hands.

A number of analysts have weighed in on VIAB shares. Citigroup downgraded shares of Viacom from a “neutral” rating to a “sell” rating and reduced their price target for the company from $33.00 to $24.00 in a report on Monday, October 9th. Morgan Stanley reduced their price target on shares of Viacom from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 13th. BMO Capital Markets reissued a “hold” rating and issued a $30.00 price target on shares of Viacom in a report on Wednesday, October 18th. Deutsche Bank reduced their price target on shares of Viacom to $25.00 and set a “sell” rating for the company in a report on Monday, October 23rd. Finally, Barclays set a $32.00 price target on shares of Viacom and gave the company a “hold” rating in a report on Friday, October 20th. Seven investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.04.

The firm has a market capitalization of $13,130.00, a P/E ratio of 6.86, a PEG ratio of 1.19 and a beta of 1.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.30 and a current ratio of 1.55.

Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, November 16th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.09). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.23 billion. Viacom had a return on equity of 28.95% and a net margin of 14.13%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 EPS. equities analysts predict that Viacom, Inc. will post 3.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, December 14th. Viacom’s dividend payout ratio (DPR) is currently 17.17%.

Several institutional investors have recently made changes to their positions in the stock. Wall Street Access Asset Management LLC increased its position in shares of Viacom by 1.1% during the 2nd quarter. Wall Street Access Asset Management LLC now owns 6,315 shares of the company’s stock worth $212,000 after purchasing an additional 70 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Viacom by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 20,990 shares of the company’s stock worth $703,000 after purchasing an additional 149 shares in the last quarter. Capital Guardian Trust Co. increased its position in shares of Viacom by 2.7% during the 2nd quarter. Capital Guardian Trust Co. now owns 6,460 shares of the company’s stock worth $217,000 after purchasing an additional 168 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Viacom by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 26,322 shares of the company’s stock worth $884,000 after purchasing an additional 290 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Viacom by 13.0% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 79.19% of the company’s stock.

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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.

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