Economy

Guggenheim Cuts Rating On Viacom Inc. - Class B (VIAB)

Guggenheim Cuts Rating On Viacom Inc. - Class B (VIAB)”

Sterneck Capital Management LLC's holdings in Viacom were worth $3,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC). When we look at the Volatility of the company, Week Volatility is at 2.93% whereas Month Volatility is at 2.32%. Five brokerages rating the company a strong buy, nine brokerages rating the company a buy, eighteen brokerages rating the company a hold, four brokerages rating the company a underperform, and finally one brokerage rating the company a sell with a 12-month price target of $47.27. Piper Jaffray Companies reiterated a hold rating and set a $40.00 price target on shares of Viacom in a research note on Tuesday, September 26th. Analysts reported that the Price Target for Viacom, Inc. might touch $52 high while the Average Price Target and Low price Target is $36.96 and $24 respectively.

Viacom, Inc. (NASDAQ:VIAB) notched a -1.37% intraday decline moving at $25.21. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company's stock. The stock has an average rating of Hold and a consensus price target of $39.92.

In a week growing tough for media stocks, Guggenheim has cut ratings on AMC Networks (AMCX -6.8%), Viacom (VIA -3.4%, VIAB -2.5%) and Disney (DIS -1.6%) amid talk of hot competition in an environment where pay TV continues to lose subscribers (see AT&T's preliminary announcement, for example). The volume of 17.94 Million shares climbed down over an trading activity of 5.14 Million shares.

An earnings forecast is an analyst's outlook for a company's future quarterly or annual earnings. The Return on Equity (ROE) value stands at 30.8%. Its revenue totaled $3.29 billion up 1.19% from the previous quarter. First Personal Financial Services now owns 3,268 shares of the company's stock worth $110,000 after buying an additional 182 shares during the last quarter. For the next 5 years, Viacom, Inc.is expecting Growth of 5.72% per annum, whereas in the past 5 years the growth was -3.73% per annum. "(VIAB) Lowered to Sell at Citigroup Inc." was reported by BBNS and is the property of of BBNS. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of United States & global copyright legislation. The original version of this article can be accessed at https://stocknewstimes.com/2017/10/13/viacom-inc-viab-downgraded-by-guggenheim-to-neutral.html.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, September 14th. Viacom's dividend payout ratio (DPR) is 21.98%. Wall Street is only getting more bullish on the stock, with 10 of analysts who cover VIAB having a buy-equivalent rating. For the quarter, shares have been noted at -29.66%. Toronto Dominion Bank now owns 119,287 shares of the company's stock valued at $4,003,000 after purchasing an additional 25,521 shares during the last quarter. Cleararc Capital Inc. lifted its stake in shares of Viacom by 0.9% in the 1st quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Viacom by 0.7% in the 2nd quarter. Andra AP fonden boosted its stake in Viacom by 5.7% in the 2nd quarter.



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