Viacom (NASDAQ:VIAB) Upgraded to Buy by Deutsche Bank

Deutsche Bank upgraded shares of Viacom (NASDAQ:VIAB) from a hold rating to a buy rating in a report released on Wednesday, The Fly reports.

VIAB has been the subject of several other research reports. TheStreet upgraded shares of Viacom from a c+ rating to a b- rating in a research note on Friday, April 26th. Macquarie cut shares of Viacom from an outperform rating to a neutral rating and reduced their target price for the stock from $37.00 to $31.00 in a research note on Wednesday. BidaskClub upgraded shares of Viacom from a sell rating to a hold rating in a research note on Friday, July 5th. ValuEngine upgraded shares of Viacom from a strong sell rating to a sell rating in a research note on Saturday, August 10th. Finally, Guggenheim upgraded shares of Viacom from a neutral rating to a buy rating and raised their target price for the stock from $31.00 to $35.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $34.14.

Shares of Viacom stock opened at $26.02 on Wednesday. Viacom has a 1 year low of $23.31 and a 1 year high of $34.44. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.36. The company has a market capitalization of $10.78 billion, a P/E ratio of 6.32, a PEG ratio of 0.96 and a beta of 1.29. The company’s fifty day moving average is $30.31 and its two-hundred day moving average is $29.33.

Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 8th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the business earned $1.18 EPS. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Viacom will post 3.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, September 13th. Viacom’s dividend payout ratio (DPR) is 19.42%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Viacom by 4.3% in the second quarter. Vanguard Group Inc. now owns 41,525,508 shares of the company’s stock valued at $1,240,367,000 after purchasing an additional 1,730,488 shares during the period. BlackRock Inc. lifted its stake in shares of Viacom by 0.8% in the first quarter. BlackRock Inc. now owns 27,794,121 shares of the company’s stock valued at $780,179,000 after purchasing an additional 215,824 shares during the period. AQR Capital Management LLC lifted its stake in shares of Viacom by 40.5% in the first quarter. AQR Capital Management LLC now owns 10,680,153 shares of the company’s stock valued at $294,131,000 after purchasing an additional 3,076,039 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Viacom by 1.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 9,035,138 shares of the company’s stock valued at $269,880,000 after purchasing an additional 90,081 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Viacom by 1.4% in the second quarter. Northern Trust Corp now owns 5,738,199 shares of the company’s stock valued at $171,401,000 after purchasing an additional 77,473 shares during the period. Hedge funds and other institutional investors own 78.71% of the company’s stock.

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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The Fly

Analyst Recommendations for Viacom (NASDAQ:VIAB)

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