Viacom (NASDAQ:VIAB) Price Target Lowered to $24.00 at Barclays

Viacom (NASDAQ:VIAB) had its price objective cut by Barclays from $33.00 to $24.00 in a report published on Monday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Guggenheim restated a buy rating on shares of Viacom in a report on Wednesday, September 4th. BidaskClub lowered shares of Viacom from a sell rating to a strong sell rating in a report on Tuesday, September 24th. TheStreet lowered shares of Viacom from a b- rating to a c+ rating in a report on Tuesday, August 27th. ValuEngine upgraded shares of Viacom from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Finally, Macquarie lowered shares of Viacom from an outperform rating to a neutral rating and reduced their price objective for the stock from $37.00 to $31.00 in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $31.63.

Shares of NASDAQ:VIAB traded down $0.31 during trading hours on Monday, hitting $21.58. The company’s stock had a trading volume of 117,300 shares, compared to its average volume of 4,779,749. Viacom has a 52 week low of $21.75 and a 52 week high of $33.66. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.36 and a quick ratio of 1.15. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 5.25, a P/E/G ratio of 0.74 and a beta of 1.35. The firm’s fifty day moving average price is $24.21 and its 200 day moving average price is $27.97.

Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.06 by $0.14. Viacom had a net margin of 12.68% and a return on equity of 21.71%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business posted $1.18 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Viacom will post 4.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.71%. The ex-dividend date was Friday, September 13th. Viacom’s dividend payout ratio is presently 19.42%.

Large investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont grew its position in Viacom by 514.7% during the 2nd quarter. Trust Co. of Vermont now owns 836 shares of the company’s stock worth $25,000 after purchasing an additional 700 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in Viacom during the 2nd quarter worth approximately $39,000. Wealthcare Advisory Partners LLC grew its position in Viacom by 1,788.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,322 shares of the company’s stock worth $39,000 after purchasing an additional 1,252 shares during the last quarter. CSat Investment Advisory L.P. grew its position in Viacom by 55.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,529 shares of the company’s stock worth $45,000 after purchasing an additional 547 shares during the last quarter. Finally, Financial Gravity Wealth Inc. grew its position in Viacom by 227.6% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,651 shares of the company’s stock worth $40,000 after purchasing an additional 1,147 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors.

About Viacom

Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.

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Analyst Recommendations for Viacom (NASDAQ:VIAB)

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