CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reiterated by analysts at Argus in a report released on Thursday. They presently have a $79.00 target price on the media conglomerate’s stock, up from their previous target price of $71.00. Argus’ target price indicates a potential upside of 18.42% from the company’s previous close.
CBS has been the topic of a number of other research reports. BMO Capital Markets reiterated an “outperform” rating on shares of CBS Corporation in a report on Friday, May 12th. BidaskClub upgraded CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Pivotal Research reiterated a “hold” rating and issued a $67.00 target price on shares of CBS Corporation in a report on Sunday, April 23rd. Benchmark Co. boosted their price objective on CBS Corporation from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Guggenheim restated a “buy” rating and set a $78.00 price objective on shares of CBS Corporation in a research note on Tuesday, June 13th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.94.
Shares of CBS Corporation (NYSE:CBS) opened at 66.71 on Thursday. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The company has a 50 day moving average price of $64.79 and a 200 day moving average price of $64.96. The stock has a market cap of $26.79 billion, a P/E ratio of 169.75 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last issued its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts anticipate that CBS Corporation will post $4.46 earnings per share for the current fiscal year.
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In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $65.40, for a total value of $344,658.00. Following the completion of the transaction, the executive vice president now directly owns 60,322 shares in the company, valued at $3,945,058.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,874 shares of company stock valued at $14,499,946. 1.67% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. GSB Wealth Management LLC increased its position in shares of CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock worth $314,000 after buying an additional 12 shares during the last quarter. WASHINGTON TRUST Co increased its position in shares of CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock worth $311,000 after buying an additional 37 shares during the last quarter. 1ST Source Bank increased its position in shares of CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock worth $300,000 after buying an additional 50 shares during the last quarter. Palladium Partners LLC increased its position in shares of CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock worth $244,000 after buying an additional 60 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC increased its position in shares of CBS Corporation by 1.0% in the second quarter. Osborn Williams & Donohoe LLC now owns 10,312 shares of the media conglomerate’s stock worth $658,000 after buying an additional 100 shares during the last quarter. Institutional investors own 75.42% of the company’s stock.
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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