CBS Co. (NYSE:CBS)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a report issued on Friday, April 14th. They presently have a $80.00 target price on the media conglomerate’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 32.49% from the stock’s previous close.
Several other equities analysts also recently issued reports on the company. Guggenheim reissued a “buy” rating and issued a $80.00 target price on shares of CBS in a research report on Friday, April 14th. FBR & Co reissued a “buy” rating and issued a $86.00 target price on shares of CBS in a research report on Friday, April 7th. Wells Fargo & Co reissued an “outperform” rating and issued a $77.50 target price (up from $74.00) on shares of CBS in a research report on Friday, April 7th. Instinet upped their target price on CBS from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Finally, Nomura upped their target price on CBS from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $71.37.
Shares of CBS (NYSE:CBS) traded up 2.277% during mid-day trading on Friday, hitting $61.755. The company had a trading volume of 3,259,236 shares. The company has a 50-day moving average price of $65.97 and a 200-day moving average price of $64.19. CBS has a 1-year low of $48.88 and a 1-year high of $70.10. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 50.371 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 EPS for the quarter, beating the 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 firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the business posted $1.02 EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities analysts anticipate that CBS will post $4.46 EPS for the current year.
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In other CBS news, EVP Lawrence Tu sold 28,641 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $67.68, for a total value of $1,938,422.88. Following the transaction, the executive vice president now directly owns 5,732 shares of the company’s stock, valued at approximately $387,941.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph R. Ianniello sold 68,869 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $67.40, for a total transaction of $4,641,770.60. Following the completion of the transaction, the chief operating officer now directly owns 305,580 shares in the company, valued at $20,596,092. The disclosure for this sale can be found here. Company insiders own 1.67% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Oakbrook Investments LLC purchased a new stake in CBS during the third quarter valued at approximately $1,275,000. Parkwood LLC purchased a new stake in CBS during the third quarter valued at approximately $275,000. YHB Investment Advisors Inc. purchased a new stake in CBS during the third quarter valued at approximately $222,000. Gateway Investment Advisers LLC raised its stake in CBS by 6.2% in the third quarter. Gateway Investment Advisers LLC now owns 82,967 shares of the media conglomerate’s stock valued at $4,542,000 after buying an additional 4,857 shares during the last quarter. Finally, CENTRAL TRUST Co raised its stake in CBS by 203.2% in the third quarter. CENTRAL TRUST Co now owns 30,462 shares of the media conglomerate’s stock valued at $1,667,000 after buying an additional 20,415 shares during the last quarter. 78.18% of the stock is currently owned by hedge funds and other institutional investors.
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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