CBS Corporation (CBS) Price Target Cut to $66.00

CBS Corporation (NYSE:CBS) had its price objective reduced by research analysts at Royal Bank Of Canada from $77.00 to $66.00 in a report released on Friday. The firm currently has an “outperform” rating on the media conglomerate’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 19.13% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a research report on Tuesday, August 8th. Argus reaffirmed a “buy” rating and issued a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 target price (up previously from $71.00) on shares of CBS Corporation in a research report on Wednesday, August 9th. Cowen and Company reissued a “buy” rating on shares of CBS Corporation in a research report on Thursday, September 21st. Finally, BMO Capital Markets reissued a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $73.33.

CBS Corporation (CBS) traded up $0.94 during trading on Friday, hitting $55.40. The stock had a trading volume of 15,147,290 shares, compared to its average volume of 4,393,937. CBS Corporation has a 52 week low of $52.75 and a 52 week high of $70.10. The company has a quick ratio of 1.28, a current ratio of 1.76 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $22,251.52, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.62.

CBS Corporation (NYSE:CBS) last posted its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. CBS Corporation had a return on equity of 58.14% and a net margin of 2.14%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. sell-side analysts predict that CBS Corporation will post 4.41 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://www.com-unik.info/2017/11/05/cbs-corporation-cbs-price-target-cut-to-66-00.html.

In related news, CEO Leslie Moonves sold 150,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $57.62, for a total transaction of $8,643,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,182,652 shares of the company’s stock, valued at approximately $68,144,408.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.96, for a total value of $538,695.32. The disclosure for this sale can be found here. Insiders sold a total of 512,298 shares of company stock valued at $30,900,946 over the last quarter. 1.67% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. FDx Advisors Inc. raised its position in CBS Corporation by 3.1% during the 3rd quarter. FDx Advisors Inc. now owns 40,738 shares of the media conglomerate’s stock worth $2,363,000 after purchasing an additional 1,237 shares during the last quarter. Community Trust & Investment Co. raised its position in CBS Corporation by 1.6% during the 3rd quarter. Community Trust & Investment Co. now owns 128,239 shares of the media conglomerate’s stock worth $7,438,000 after purchasing an additional 2,073 shares during the last quarter. Channing Capital Management LLC raised its position in CBS Corporation by 12.1% during the 3rd quarter. Channing Capital Management LLC now owns 251,345 shares of the media conglomerate’s stock worth $14,578,000 after purchasing an additional 27,064 shares during the last quarter. Canada Pension Plan Investment Board raised its position in CBS Corporation by 16.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 578,900 shares of the media conglomerate’s stock worth $33,576,000 after purchasing an additional 80,600 shares during the last quarter. Finally, Bremer Trust National Association raised its position in CBS Corporation by 6.4% during the 3rd quarter. Bremer Trust National Association now owns 32,458 shares of the media conglomerate’s stock worth $1,883,000 after purchasing an additional 1,947 shares during the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

What are top analysts saying about CBS Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CBS Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit