CBS Corporation (NYSE:CBS) has been given an average recommendation of “Buy” by the twenty-nine research firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $72.94.
A number of equities analysts recently issued reports on CBS shares. Guggenheim reiterated a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research report on Friday, April 14th. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research report on Friday, April 14th. Pivotal Research reiterated a “hold” rating and set a $67.00 price objective on shares of CBS Corporation in a research report on Sunday, April 23rd. Needham & Company LLC upped their price objective on shares of CBS Corporation from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Telsey Advisory Group upped their price target on shares of CBS Corporation from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Friday, May 5th.
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In other news, CEO Leslie Moonves sold 200,000 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total value of $12,758,000.00. Following the completion of the sale, the chief executive officer now owns 1,232,652 shares in the company, valued at $78,630,871.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total transaction of $520,891.26. The disclosure for this sale can be found here. Insiders sold 226,874 shares of company stock worth $14,499,946 over the last ninety days. Insiders own 1.67% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp increased its stake in shares of CBS Corporation by 34.0% in the second quarter. Cibc World Markets Corp now owns 52,046 shares of the media conglomerate’s stock valued at $3,319,000 after buying an additional 13,209 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of CBS Corporation by 2.7% in the second quarter. Thrivent Financial For Lutherans now owns 14,130 shares of the media conglomerate’s stock valued at $901,000 after buying an additional 370 shares in the last quarter. Amalgamated Bank increased its stake in shares of CBS Corporation by 53.2% in the second quarter. Amalgamated Bank now owns 42,344 shares of the media conglomerate’s stock valued at $2,701,000 after buying an additional 14,700 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of CBS Corporation by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 419,333 shares of the media conglomerate’s stock valued at $26,774,000 after buying an additional 2,817 shares in the last quarter. Finally, Icon Advisers Inc. Co. increased its stake in shares of CBS Corporation by 16.9% in the second quarter. Icon Advisers Inc. Co. now owns 59,504 shares of the media conglomerate’s stock valued at $3,795,000 after buying an additional 8,600 shares in the last quarter. Institutional investors own 75.42% of the company’s stock.
Shares of CBS Corporation (CBS) traded up 0.79% during mid-day trading on Monday, hitting $66.71. 2,770,862 shares of the company were exchanged. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The company’s 50-day moving average price is $64.67 and its 200-day moving average price is $64.93. The firm has a market capitalization of $26.79 billion, a P/E ratio of 169.75 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last released its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Equities research analysts predict that CBS Corporation will post $4.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is 211.76%.
CBS Corporation Company Profile
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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