Viad (NYSE:VVI) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Viad (NYSE:VVI) from a hold rating to a buy rating in a research note published on Saturday, March 30th, ValuEngine reports.

Shares of NYSE VVI traded up $0.27 during mid-day trading on Friday, reaching $58.52. The company had a trading volume of 54,104 shares, compared to its average volume of 71,532. Viad has a twelve month low of $46.17 and a twelve month high of $62.50. The company has a market capitalization of $1.19 billion, a PE ratio of 25.01 and a beta of 0.75.

Viad (NYSE:VVI) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.07). The company had revenue of $296.92 million during the quarter, compared to analyst estimates of $287.40 million. Viad had a return on equity of 10.65% and a net margin of 3.79%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted ($0.26) earnings per share. Analysts anticipate that Viad will post 2.48 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, March 14th. Viad’s dividend payout ratio (DPR) is 17.09%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reinhart Partners Inc. lifted its stake in shares of Viad by 33.2% in the first quarter. Reinhart Partners Inc. now owns 62,463 shares of the business services provider’s stock valued at $3,516,000 after buying an additional 15,578 shares during the period. Geode Capital Management LLC lifted its stake in shares of Viad by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 218,234 shares of the business services provider’s stock valued at $10,931,000 after buying an additional 17,413 shares during the period. Norges Bank bought a new position in Viad during the fourth quarter worth about $21,655,000. Moab Capital Partners LLC lifted its stake in Viad by 7.8% during the fourth quarter. Moab Capital Partners LLC now owns 1,512,845 shares of the business services provider’s stock worth $75,778,000 after purchasing an additional 109,403 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Viad by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 14,592 shares of the business services provider’s stock worth $731,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Viad

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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