Brean Capital Reaffirms Buy Rating for CBS Corporation (CBS)

Brean Capital reissued their buy rating on shares of CBS Corporation (NYSE:CBS) in a report issued on Friday morning. The brokerage currently has a $75.00 target price on the media conglomerate’s stock.

CBS has been the topic of several other reports. Jefferies Group restated a buy rating on shares of CBS Corporation in a report on Monday, September 12th. Wells Fargo & Company restated an outperform rating and set a $65.00 price objective on shares of CBS Corporation in a report on Wednesday, November 2nd. J P Morgan Chase & Co restated a buy rating and set a $69.00 price objective on shares of CBS Corporation in a report on Friday, November 4th. Telsey Advisory Group raised their price objective on CBS Corporation from $57.00 to $66.00 and gave the stock a market perform rating in a report on Tuesday, December 13th. Finally, Argus restated a buy rating and set a $71.00 price objective on shares of CBS Corporation in a report on Tuesday, October 4th. Four investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $65.66.

Shares of CBS Corporation (NYSE:CBS) traded up 0.14% on Friday, hitting $62.78. The stock had a trading volume of 2,275,723 shares. The company’s 50 day moving average price is $63.04 and its 200-day moving average price is $56.42. The company has a market cap of $26.98 billion, a P/E ratio of 17.63 and a beta of 1.65. CBS Corporation has a 12 month low of $41.36 and a 12 month high of $66.88.

CBS Corporation (NYSE:CBS) last issued its quarterly earnings results on Thursday, November 3rd. The media conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.07. CBS Corporation had a return on equity of 33.06% and a net margin of 11.32%. The firm earned $3.40 million during the quarter, compared to analyst estimates of $3.26 million. During the same period last year, the company earned $0.88 EPS. CBS Corporation’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts expect that CBS Corporation will post $4.11 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Friday, December 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.15%. CBS Corporation’s dividend payout ratio (DPR) is presently 20.17%.

Large investors have recently bought and sold shares of the stock. SevenBridge Financial Group LLC raised its stake in CBS Corporation by 714.1% in the third quarter. SevenBridge Financial Group LLC now owns 4,624 shares of the media conglomerate’s stock worth $255,000 after buying an additional 4,056 shares during the period. Piedmont Investment Advisors LLC bought a new stake in CBS Corporation during the third quarter worth about $4,547,000. Quantitative Systematic Strategies LLC bought a new stake in CBS Corporation during the third quarter worth about $730,000. Water Island Capital LLC bought a new stake in CBS Corporation during the third quarter worth about $4,379,000. Finally, Sawtooth Solutions LLC bought a new stake in CBS Corporation during the third quarter worth about $239,000. Institutional investors and hedge funds own 77.80% of the company’s stock.

CBS Corporation Company Profile

CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.

5 Day Chart for NYSE:CBS

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