Viacom’s (NASDAQ:VIAB) Neutral Rating Reiterated at Cowen

Viacom (NASDAQ:VIAB)‘s stock had its “neutral” rating reissued by investment analysts at Cowen in a note issued to investors on Friday, November 17th.

Several other analysts also recently commented on the stock. Citigroup downgraded shares of Viacom from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $33.00 to $24.00 in a report on Monday, October 9th. Wells Fargo & Company downgraded shares of Viacom from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 5th. Morgan Stanley reduced their price objective on shares of Viacom from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. BMO Capital Markets restated a “hold” rating and set a $30.00 price objective on shares of Viacom in a research report on Wednesday, October 18th. Finally, Jefferies Group reiterated a “buy” rating and issued a $52.00 target price on shares of Viacom in a research report on Thursday, August 3rd. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.62.

Viacom (VIAB) traded up $0.78 during midday trading on Friday, hitting $29.18. 8,568,377 shares of the company traded hands, compared to its average volume of 5,145,245. 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 has a 1 year low of $22.13 and a 1 year high of $46.72. The company has a market cap of $11,424.10, a price-to-earnings ratio of 7.53, a PEG ratio of 1.00 and a beta of 1.60.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, November 16th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.09). The company had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $1.54 EPS. analysts anticipate that Viacom will post 3.78 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new stake in Viacom during the second quarter worth approximately $108,000. First Personal Financial Services raised its holdings in Viacom by 5.9% during 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 in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Viacom by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after acquiring an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Viacom by 13.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock valued at $124,000 after acquiring an additional 423 shares during the period. Finally, Delta Asset Management LLC TN increased its holdings in shares of Viacom by 12.2% in the 2nd quarter. Delta Asset Management LLC TN now owns 4,358 shares of the company’s stock valued at $146,000 after acquiring an additional 475 shares during the period. 79.26% of the stock is currently owned by institutional investors.

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Viacom Company Profile

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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