Viacom (NASDAQ:VIA) Rating Increased to Buy at Guggenheim

Guggenheim upgraded shares of Viacom (NASDAQ:VIA) from a neutral rating to a buy rating in a report released on Wednesday morning, The Fly reports.

A number of other analysts have also commented on the stock. BidaskClub lowered shares of Viacom from a hold rating to a sell rating in a research note on Tuesday, June 11th. TheStreet raised shares of Viacom from a c+ rating to a b- rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $34.00.

VIA stock opened at $27.29 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.02. Viacom has a one year low of $27.00 and a one year high of $38.00. The firm has a market capitalization of $11.01 billion, a PE ratio of 6.75 and a beta of 1.25. The firm has a 50-day moving average of $34.66 and a two-hundred day moving average of $34.41.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.93%.

Several institutional investors and hedge funds have recently modified their holdings of VIA. Royal Bank of Canada raised its stake in Viacom by 6.2% during the second quarter. Royal Bank of Canada now owns 10,021 shares of the company’s stock worth $343,000 after acquiring an additional 589 shares in the last quarter. Susquehanna International Group LLP raised its stake in Viacom by 198.7% during the second quarter. Susquehanna International Group LLP now owns 7,794 shares of the company’s stock worth $266,000 after acquiring an additional 15,694 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Viacom during the second quarter worth $1,897,000. Morgan Stanley raised its stake in Viacom by 1.7% during the second quarter. Morgan Stanley now owns 41,776 shares of the company’s stock worth $1,425,000 after acquiring an additional 695 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Viacom by 10.9% during the second quarter. Bank of America Corp DE now owns 47,709 shares of the company’s stock worth $1,627,000 after acquiring an additional 4,680 shares in the last quarter. Institutional investors own 1.93% of the company’s stock.

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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