Viacom Inc. (NASDAQ:VIAB) Upgraded by BidaskClub to "Hold"

Share

Finally, TIAA CREF Investment Management LLC boosted its position in shares of Viacom by 23.4% in the first quarter. SOL Capital Management CO boosted its position in Viacom by 3.2% in the first quarter.

The stock decreased 4.05% or $1.44 during the last trading session, hitting $60.00. National Pension Service now owns 318,187 shares of the company's stock worth $14,751,000 after buying an additional 19,285 shares during the period.

Net profit attributable to Viacom rose to $683 million, or $1.70 per share, in the quarter ended June 30, from $432 million, or $1.09 per share, a year earlier. Finally, Denali Advisors LLC raised its position in shares of Viacom by 154.8% in the first quarter.

In January, Viacom announced a $1 billion cash investment from Shanghai Film Group and Huahua Media, giving the USA studio much-needed cash and support as it attempts to grow. (NASDAQ:VIAB) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. State Street Corp now owns 15,523,719 shares of the company's stock valued at $723,729,000 after buying an additional 207,253 shares during the last quarter. Nisa Investment Advisors LLC's holdings in Viacom were worth $4,247,000 at the end of the most recent quarter. The legal version of this story can be read at https://transcriptdaily.com/2017/08/03/4728620-shares-in-viacom-inc-nasdaqviab-acquired-by-oldfield-partners-llp-updated.html. (VIAB)'s latest closing price was -9.68% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 0.15% and 0.53% compared with the 20 Day Moving Average.

Viacom reported higher earnings in the third quarter, getting a boost from the sale of its stake in Epix.

Third-quarter earnings rose to $1.17 a share, compared with the $1.05 average estimate of analysts.

The subscriber losses add to the tasks facing Chief Executive Officer Bob Bakish as he attempts to turn around Viacom, the beleaguered media company just emerging from a fight for control and a period of executive turnover. Revenue was $3.36 billion, up from $3.11 billion a year ago and above FactSet's $3.30 billion revenue consensus.

EPS in next five year years is expected to touch 6.73% while EPS growth in past 5 year was 0.00% along with sales growth of -3.50% in the last five years.

Telefe, the Argentine television network Viacom agreed to acquire late past year, helped boost worldwide revenue 13%, leaving out currency fluctuations. Analysts polled by Thomson Reuters had expected $3.29 billion in revenue and adjusted earnings per share of $1.05.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. The ex-dividend date was Tuesday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.35%. Viacom's payout ratio is 26.40%. Pivotal Research reaffirmed a "hold" rating and issued a $40.00 price target on shares of Viacom in a research note on Sunday, April 23rd. FBR & Co increased their target price on shares of Viacom from $45.00 to $48.00 and gave the company a "mkt perform" rating in a research note on Monday, April 10th. Royal Bank Of Canada cut their target price on shares of Viacom from $35.00 to $30.00 and set an "underperform" rating on the stock in a report on Monday, May 15th.

Share