CBS (CBS) Stock Rating Lowered by Macquarie

Macquarie cut shares of CBS (NYSE:CBS) from an outperform rating to a neutral rating in a report released on Tuesday, MarketBeat.com reports. They currently have $60.00 target price on the media conglomerate’s stock.

A number of other brokerages also recently commented on CBS. Cowen restated a buy rating on shares of CBS in a research note on Thursday, September 21st. B. Riley restated a buy rating on shares of CBS in a research note on Friday, November 3rd. Rosenblatt Securities restated a buy rating and issued a $80.00 target price on shares of CBS in a research note on Wednesday, September 20th. Zacks Investment Research upgraded CBS from a sell rating to a hold rating in a research note on Monday, October 30th. Finally, Needham & Company LLC restated a buy rating and issued a $70.00 target price (down from $80.00) on shares of CBS in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $72.26.

Shares of CBS (NYSE:CBS) opened at $57.58 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03. The firm has a market capitalization of $23,040.00, a PE ratio of 16.74, a P/E/G ratio of 0.94 and a beta of 1.62. CBS has a fifty-two week low of $52.75 and a fifty-two week high of $70.10.

CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. CBS had a return on equity of 58.49% and a net margin of 2.14%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company earned $1.05 earnings per share. CBS’s quarterly revenue was up 2.8% on a year-over-year basis. equities analysts anticipate that CBS will post 4.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Monday, December 11th were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. CBS’s dividend payout ratio is presently 20.93%.

In other news, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $68,144,408.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arnold Kopelson sold 5,093 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $59.51, for a total value of $303,084.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,279 shares of company stock valued at $14,437,978. Insiders own 1.67% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. LSV Asset Management lifted its position in CBS by 3.5% in the second quarter. LSV Asset Management now owns 356,700 shares of the media conglomerate’s stock worth $22,750,000 after purchasing an additional 12,000 shares during the period. IFM Investors Pty Ltd acquired a new stake in CBS in the second quarter worth approximately $654,000. Eaton Vance Management lifted its position in CBS by 27.8% in the second quarter. Eaton Vance Management now owns 734,531 shares of the media conglomerate’s stock worth $46,848,000 after purchasing an additional 159,924 shares during the period. Systematic Financial Management LP lifted its position in CBS by 106.2% in the second quarter. Systematic Financial Management LP now owns 223,437 shares of the media conglomerate’s stock worth $14,251,000 after purchasing an additional 115,100 shares during the period. Finally, Marathon Capital Management lifted its position in CBS by 4.3% in the second quarter. Marathon Capital Management now owns 33,515 shares of the media conglomerate’s stock worth $2,138,000 after purchasing an additional 1,375 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

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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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