Viacom Inc. (NASDAQ:VIAB) Position Cut by Foster & Motley Inc

Paterniano Del Favero
Agosto 4, 2017

CrestPoint Capital Management LLC bought a new position in Viacom during the first quarter valued at $373,000. SOL Capital Management CO raised its position in shares of Viacom by 3.2% in the first quarter. Jacobs & Co. CA now owns 35,453 shares of the company's stock valued at $1,652,000 after buying an additional 1,265 shares in the last quarter. National Pension Service boosted its stake in shares of Viacom by 6.5% in the first quarter.

Commenting on the results, CEO Bob Bakish said, "In the third quarter, Viacom strengthened its top line, with growth in advertising and affiliate revenues and gains across its Filmed Entertainment segment, while continuing to execute on a strategic plan to reinvigorate our brands, break down silos, deepen our relationships with business partners and reposition Paramount for the future". Finally, Denali Advisors LLC raised its position in shares of Viacom by 154.8% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company's stock worth $335,000 after buying an additional 53 shares during the last quarter.

New York City-based Viacom, like many of its peers, is struggling to keep viewers watching its channels as they flock to online streaming services such as Netflix Inc and Amazon.com Inc's Prime. Korea Investment CORP now owns 209,932 shares of the company's stock worth $9,787,000 after buying an additional 64,022 shares during the last quarter. The institutional investor owned 28,784 shares of the company's stock after selling 10,591 shares during the period.

Viacom Inc, the owner of MTV, Comedy Central and Paramount, posted better-than expected quarterly revenue and profit as higher affiliate revenue offset continued declines in USA advertising revenue. (NASDAQ:VIAB)'s 14-day RSI is presently at 43.82. BlackRock Inc. now owns 21,485,851 shares of the company's stock valued at $1,001,671,000 after buying an additional 20,807,733 shares during the last quarter. The company has a market capitalization of $14.01 billion, a PE ratio of 11.53 and a beta of 1.57. Viacom Inc. The stock's 50 day moving average is $34.80 and its 200-day moving average is $39.46.

Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, May 4th. Both earnings and revenue for the quarter beat analysts' expectations.

Net profit attributable to Viacom rose to $683 million, or $1.70 per share, in the third quarter ended June 30 from $432 million, or $1.09 per share, a year earlier. During the same quarter in the previous year, the business posted $0.76 EPS.

Viacom's revenue grew 8 percent from the year-ago quarter. On average, equities research analysts anticipate that Viacom Inc. will post $3.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.35%. Viacom's payout ratio is 26.40%.

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VIAB has been the topic of several other research reports. Rosenblatt Securities assumed coverage on shares of Viacom in a report on Wednesday, April 5th. Jefferies Group LLC reiterated a "buy" rating and set a $52.00 price objective on shares of Viacom in a report on Monday, April 17th. Finally, BMO Capital Markets decreased their price objective on shares of Viacom from $44.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday, May 15th. BidaskClub cut Viacom from a "sell" rating to a "strong sell" rating in a research note on Wednesday, July 5th. (NASDAQ:VIAB), 15 have Buy rating, 1 Sell and 17 Hold.

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