Macquarie Downgrades Viacom (NASDAQ:VIAB) to Neutral

Macquarie cut shares of Viacom (NASDAQ:VIAB) from an outperform rating to a neutral rating in a report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has $31.00 price target on the stock, down from their prior price target of $37.00.

Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Viacom from a sell rating to a hold rating in a report on Friday, July 5th. ValuEngine upgraded Viacom from a strong sell rating to a sell rating in a report on Saturday, August 10th. TheStreet upgraded Viacom from a c+ rating to a b- rating in a report on Friday, April 26th. Finally, BMO Capital Markets dropped their target price on Viacom from $34.00 to $33.00 and set a market perform rating on the stock in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.14.

VIAB stock opened at $26.02 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.02. Viacom has a one year low of $23.31 and a one year high of $34.44. The firm has a market capitalization of $10.78 billion, a PE ratio of 6.32, a P/E/G ratio of 0.96 and a beta of 1.29. The firm has a 50-day moving average of $30.31 and a two-hundred day moving average of $29.33.

Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.33 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Viacom will post 3.99 earnings per share for the current year.

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

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Viacom by 20.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,147,775 shares of the company’s stock worth $132,310,000 after buying an additional 865,520 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Viacom by 7.0% during the first quarter. Retirement Systems of Alabama now owns 361,251 shares of the company’s stock worth $10,140,000 after buying an additional 23,563 shares during the period. Sciencast Management LP acquired a new stake in shares of Viacom during the first quarter worth $386,000. Pennsylvania Trust Co acquired a new stake in shares of Viacom during the first quarter worth $3,227,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Viacom by 33.1% during the first quarter. Meeder Asset Management Inc. now owns 94,285 shares of the company’s stock worth $2,647,000 after buying an additional 23,473 shares during the period. Hedge funds and other institutional investors own 78.71% of the company’s stock.

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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