Viad (NYSE:VVI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Viad Corp is an S&P SmallCap 600 international experiential services company with operations in the United States, Canada, the United Kingdom, continental Europe and the United Arab Emirates. Viad generates its revenue and shareholder value through two main business units: GES, a global full-service live events company serving the world’s leading brands and event organizers and Pursuit, a collection of iconic and cultural destination travel experiences that showcase the best of Banff, Jasper, Glacier, Denali and Kenai Fjords National Parks. Their business strategy focuses on providing exceptional experiential services to their customers and sustainable returns on invested capital to their shareholders. “
Several other brokerages also recently weighed in on VVI. Northcoast Research reiterated a “neutral” rating on shares of Viad in a research report on Friday, July 27th. ValuEngine downgraded Viad from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd.
Viad (NYSE:VVI) last announced its quarterly earnings data on Thursday, July 26th. The business services provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Viad had a return on equity of 8.20% and a net margin of 2.95%. The firm had revenue of $363.70 million during the quarter, compared to the consensus estimate of $360.75 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts predict that Viad will post 2.69 EPS for the current year.
A number of hedge funds have recently made changes to their positions in VVI. Northern Trust Corp increased its stake in shares of Viad by 0.3% during the first quarter. Northern Trust Corp now owns 360,797 shares of the business services provider’s stock valued at $18,924,000 after buying an additional 1,132 shares during the period. BlackRock Inc. increased its stake in shares of Viad by 1.7% during the first quarter. BlackRock Inc. now owns 2,639,432 shares of the business services provider’s stock valued at $138,438,000 after buying an additional 44,382 shares during the period. California Public Employees Retirement System increased its stake in shares of Viad by 6.9% during the first quarter. California Public Employees Retirement System now owns 31,887 shares of the business services provider’s stock valued at $1,672,000 after buying an additional 2,048 shares during the period. Barclays PLC increased its stake in shares of Viad by 38.0% during the first quarter. Barclays PLC now owns 6,241 shares of the business services provider’s stock valued at $327,000 after buying an additional 1,719 shares during the period. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Viad during the first quarter valued at approximately $312,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. The company operates in two business groups, GES and Pursuit. It offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.
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