ValuEngine Downgrades Viacom (NASDAQ:VIAB) to Strong Sell

Viacom (NASDAQ:VIAB) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Thursday, ValuEngine reports.

Several other research firms have also issued reports on VIAB. BMO Capital Markets dropped their price objective on Viacom from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. Royal Bank of Canada raised Viacom from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $31.00 to $36.00 in a research note on Thursday, April 4th. TheStreet raised Viacom from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. Finally, BidaskClub raised Viacom from a “sell” rating to a “hold” rating in a research note on Friday, July 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Viacom presently has an average rating of “Hold” and a consensus target price of $34.54.

NASDAQ:VIAB traded down $0.14 during trading hours on Thursday, hitting $29.78. 5,579,079 shares of the company’s stock traded hands, compared to its average volume of 2,895,801. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 7.23, a P/E/G ratio of 1.03 and a beta of 1.29. Viacom has a 52 week low of $23.31 and a 52 week high of $34.44. The company has a fifty day moving average of $30.58. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.08.

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

A number of hedge funds have recently modified their holdings of VIAB. AQR Capital Management LLC lifted its stake in Viacom by 40.5% during the first quarter. AQR Capital Management LLC now owns 10,680,153 shares of the company’s stock worth $294,131,000 after purchasing an additional 3,076,039 shares during the last quarter. Norges Bank bought a new stake in Viacom during the fourth quarter worth about $75,545,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Viacom by 836.3% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,850,277 shares of the company’s stock worth $80,007,000 after purchasing an additional 2,545,862 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in Viacom by 41.3% during the first quarter. Thompson Siegel & Walmsley LLC now owns 3,579,799 shares of the company’s stock worth $100,485,000 after purchasing an additional 1,046,796 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 865,520 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other 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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