Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Thursday, November 16th. They expect $1.00 earnings per share, down 3.85% or $0.04 from last year's $1.04 per share. The total amount of shares outstanding is 414.97 million, giving the company a market capitalization of about 12.79 billion. Zacks Investment Research's sales calculations are an average based on a survey of research firms that that provide coverage for Viacom. Viacom, Inc. (NASDAQ:VIAB) has declined 8.36% since January 13, 2017 and is downtrending. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.86 by ($0.09). Stoneridge Investment Partners Llc acquired 14,206 shares as Viacom Inc Class B (VIAB)'s stock declined 19.98%. The firm had revenue of $3.32 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter a year ago.
Other large investors also recently added to or reduced their stakes in the company. BidaskClub upgraded Viacom from a "strong sell" rating to a "sell" rating in a report on Friday, December 22nd. Finally, Deutsche Bank dropped their target price on shares of Viacom to $25.00 and set a "sell" rating for the company in a research report on Monday, October 23rd. Guggenheim restated a "buy" rating and set a $37.00 price objective (down previously from $40.00) on shares of Viacom in a report on Friday, October 6th. Barrington Research downgraded Viacom from an outperform rating to a market perform rating in a research report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. Viacom now has a consensus rating of "Hold" and an average price target of $35.04.
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Institutional investors have recently made changes to their positions in the company. Wall Street Access Asset Management LLC boosted its holdings in shares of Viacom by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company's stock worth $972,330,000 after buying an additional 6,496,269 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Viacom by 0.5% in the second quarter. The Mrj Capital Inc holds 22,300 shares with $620,000 value, down from 53,850 last quarter. Tobam bought a new stake in Viacom in the 2nd quarter worth about $1,886,000. Daruma Cap Management reported 1.18 million shares stake. Cubist Systematic Strategies LLC now owns 82,950 shares of the company's stock worth $2,785,000 after purchasing an additional 78,049 shares during the last quarter. Empirical Finance LLC now owns 23,107 shares of the company's stock valued at $776,000 after acquiring an additional 213 shares in the last quarter. The firm owned 35,177 shares of the company's stock after selling 483,967 shares during the period. Following the completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at $696,000. (NASDAQ:VIAB) traded up $2.95 during midday trading on Friday, hitting $33.76. About 12.83M shares traded or 116.25% up from the average. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Viacom by 1.1% in the second quarter. Viacom has a 52 week low of $22.13 and a 52 week high of $46.72.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Wednesday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 2.37%. Viacom's dividend payout ratio (DPR) is presently 17.17%.
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COPYRIGHT VIOLATION NOTICE: "Pivotal Research Reiterates "Hold" Rating for Viacom (VIAB)" was first posted by Registrar Journal and is the sole property of of Registrar Journal.
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