CBS Co. (CBS) Receives “Buy” Rating from Guggenheim

CBS Co. (NYSE:CBS)‘s stock had its “buy” rating reaffirmed by research analysts at Guggenheim in a research note issued to investors on Friday, April 14th. They currently have a $80.00 price target on the media conglomerate’s stock. Guggenheim’s price target suggests a potential upside of 32.49% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on CBS. Brean Capital reaffirmed a “buy” rating on shares of CBS in a research note on Thursday, December 15th. Wunderlich reissued a “positive” rating and set a $72.00 target price on shares of CBS in a research note on Monday, December 19th. Loop Capital reissued a “buy” rating and set a $77.00 target price (up from $67.00) on shares of CBS in a research note on Sunday, January 8th. Pivotal Research cut CBS from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $72.00 to $67.00 in a research report on Thursday, January 12th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $74.00 price objective (up from $67.00) on shares of CBS in a research report on Friday, January 13th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $71.37.

Analyst Recommendations for CBS (NYSE:CBS)

CBS (NYSE:CBS) traded up 2.42% during trading on Friday, hitting $61.84. The stock had a trading volume of 2,428,137 shares. The company’s 50 day moving average is $65.97 and its 200-day moving average is $64.19. CBS has a 12 month low of $48.88 and a 12 month high of $70.10. The company has a market cap of $25.10 billion, a PE ratio of 50.44 and a beta of 1.66.

CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.09. CBS had a return on equity of 33.06% and a net margin of 11.32%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis. On average, equities research analysts predict that CBS will post $4.46 earnings per share for the current year.

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In other news, EVP Lawrence Tu sold 28,641 shares of CBS stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $67.68, for a total transaction of $1,938,422.88. Following the sale, the executive vice president now owns 5,732 shares of the company’s stock, valued at $387,941.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Joseph R. Ianniello sold 68,869 shares of CBS stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $67.40, for a total value of $4,641,770.60. Following the sale, the chief operating officer now directly owns 305,580 shares in the company, valued at approximately $20,596,092. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in CBS. Point72 Asset Management L.P. purchased a new stake in shares of CBS during the first quarter valued at approximately $26,719,000. Colony Group LLC purchased a new stake in shares of CBS during the first quarter valued at approximately $8,464,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of CBS by 16.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,916 shares of the media conglomerate’s stock valued at $549,000 after buying an additional 1,116 shares during the last quarter. Horizon Investment Services LLC boosted its stake in shares of CBS by 8.6% in the first quarter. Horizon Investment Services LLC now owns 72,227 shares of the media conglomerate’s stock valued at $5,010,000 after buying an additional 5,745 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in CBS by 1.3% in the first quarter. Kovitz Investment Group Partners LLC now owns 942,629 shares of the media conglomerate’s stock valued at $65,381,000 after buying an additional 12,238 shares during the period. 78.18% of the stock is currently owned by hedge funds and other institutional investors.

About CBS

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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