Viacom (NASDAQ:VIAB) Lowered to Sell at BidaskClub

Viacom (NASDAQ:VIAB) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, June 29th, BidAskClub reports.

A number of other analysts also recently issued reports on the company. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Friday, April 26th. Royal Bank of Canada raised Viacom from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $36.00 in a research report on Thursday, April 4th. BMO Capital Markets raised their price objective on SilverCrest Metals from C$6.50 to C$7.00 in a research report on Thursday, May 16th. ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, Loop Capital raised their price objective on Bed Bath & Beyond to $16.00 and gave the stock an “average” rating in a research report on Friday, March 29th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $34.54.

Shares of NASDAQ:VIAB traded down $0.09 during midday trading on Friday, reaching $30.49. 3,340,291 shares of the company’s stock were exchanged, compared to its average volume of 3,296,178. The stock has a 50 day moving average price of $30.20. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $12.29 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. Viacom has a fifty-two week low of $23.31 and a fifty-two week high of $34.44.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.06 billion. Viacom had a return on equity of 22.60% and a net margin of 12.63%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. On average, analysts expect that Viacom will post 4.03 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new position in shares of Viacom in the 1st quarter valued at about $30,000. Valley National Advisers Inc. boosted its stake in shares of Viacom by 66.4% in the 4th quarter. Valley National Advisers Inc. now owns 1,118 shares of the company’s stock valued at $29,000 after buying an additional 446 shares during the period. Bruderman Asset Management LLC boosted its stake in shares of Viacom by 935.5% in the 4th quarter. Bruderman Asset Management LLC now owns 1,139 shares of the company’s stock valued at $29,000 after buying an additional 1,029 shares during the period. Advisory Services Network LLC boosted its stake in shares of Viacom by 189.2% in the 4th quarter. Advisory Services Network LLC now owns 1,605 shares of the company’s stock valued at $41,000 after buying an additional 1,050 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Viacom by 98.8% in the 1st quarter. CENTRAL TRUST Co now owns 1,720 shares of the company’s stock valued at $48,000 after buying an additional 855 shares during the period. 79.80% of the stock is owned by institutional investors.

Viacom Company Profile

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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