Needham & Co. Downgrades Viacom to “Hold”; Valuation Call (VIAB)
Needham & Co. analysts downgraded media and entertainment giant Viacom, Inc. (VIAB) early on Monday, citing its current valuation as a reason for the move.
The analysts note that VIAB shares are up more than 20% over the past six weeks and trades at a premium compared to its peers. As such, the analysts downgraded the stock from “Buy” to “Hold.”
Viacom shares were down 57 cents, or 0.72%, during morning trading on Monday. the stock is up 48.73% year-to-date.
The Bottom Line
Shares of Viacom (VIAB) offer a dividend yield of 1.52% based on Friday’s closing price of $1.20 per share and the company’s annualized dividend payout of $1.20 per share.
Viacom, Inc. (VIAB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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