Zacks Investment Research upgraded shares of Viad (NYSE:VVI) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $80.00 price objective on the business services provider’s stock.
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. “
Separately, ValuEngine downgraded Xylem from a buy rating to a hold rating in a research note on Tuesday, May 14th.
Viad (NYSE:VVI) last issued its earnings results on Thursday, April 25th. The business services provider reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.25. Viad had a return on equity of 10.56% and a net margin of 3.13%. The business had revenue of $285.60 million during the quarter, compared to the consensus estimate of $272.40 million. During the same period last year, the company earned ($0.49) EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts expect that Viad will post 2.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, June 6th. Viad’s dividend payout ratio is presently 17.09%.
In other news, Director Robert E. Munzenrider sold 2,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $62.91, for a total transaction of $125,820.00. Following the completion of the transaction, the director now directly owns 21,025 shares in the company, valued at approximately $1,322,682.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KAMES CAPITAL plc acquired a new position in shares of Viad in the second quarter worth $5,215,000. GMT Capital Corp raised its holdings in shares of Viad by 24.6% in the first quarter. GMT Capital Corp now owns 692,459 shares of the business services provider’s stock worth $38,979,000 after acquiring an additional 136,664 shares during the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of Viad by 10.6% in the first quarter. Kennedy Capital Management Inc. now owns 253,901 shares of the business services provider’s stock worth $14,292,000 after acquiring an additional 24,271 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Viad in the first quarter worth $1,544,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Viad by 73.4% in the first quarter. CIBC Private Wealth Group LLC now owns 76,109 shares of the business services provider’s stock worth $4,284,000 after acquiring an additional 32,227 shares during the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.
Viad Company Profile
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. It operates in two business groups, GES and Pursuit. The company 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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