Viad (VVI) Upgraded to “Hold” by Zacks Investment Research

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Zacks Investment Research upgraded shares of Viad (NYSE:VVI) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports.

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 raised shares of Viad from a hold rating to a buy rating in a research note on Saturday, March 30th.

VVI opened at $58.52 on Thursday. The company has a market cap of $1.19 billion, a P/E ratio of 25.01 and a beta of 0.75. Viad has a fifty-two week low of $46.17 and a fifty-two week high of $62.50.

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 business had revenue of $296.92 million for the quarter, compared to the consensus estimate of $287.40 million. Viad had a return on equity of 10.65% and a net margin of 3.79%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned ($0.26) earnings per share. On average, analysts predict that Viad will post 2.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors 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 of this dividend was Thursday, March 14th. Viad’s dividend payout ratio is currently 17.09%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Viad by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,071,206 shares of the business services provider’s stock valued at $153,836,000 after purchasing an additional 68,872 shares during the period. Moab Capital Partners LLC grew its holdings 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 valued at $75,778,000 after purchasing an additional 109,403 shares during the period. Vanguard Group Inc grew its holdings in Viad by 1.0% during the third quarter. Vanguard Group Inc now owns 1,210,248 shares of the business services provider’s stock valued at $71,707,000 after purchasing an additional 11,668 shares during the period. Vanguard Group Inc. grew its holdings in Viad by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,210,248 shares of the business services provider’s stock valued at $71,707,000 after purchasing an additional 11,668 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Viad by 9.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,086,953 shares of the business services provider’s stock valued at $54,445,000 after purchasing an additional 97,400 shares during the period. Hedge funds and other institutional investors own 90.24% 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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