Traders Buy CBS (CBS) on Weakness

Investors bought shares of CBS Co. (NYSE:CBS) on weakness during trading hours on Friday. $68.21 million flowed into the stock on the tick-up and $20.94 million flowed out of the stock on the tick-down, for a money net flow of $47.27 million into the stock. Of all equities tracked, CBS had the 33rd highest net in-flow for the day. CBS traded down ($1.17) for the day and closed at $54.18

Several research firms have issued reports on CBS. Zacks Investment Research upgraded shares of CBS from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. B. Riley increased their price target on shares of CBS from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of CBS in a report on Friday, November 2nd. Barrington Research reissued a “buy” rating and issued a $71.00 price target on shares of CBS in a report on Monday, August 6th. Finally, Royal Bank of Canada increased their price target on shares of CBS to $70.00 and gave the stock a “positive” rating in a report on Friday, November 2nd. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $66.14.

The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.05 and a current ratio of 1.51. The firm has a market cap of $20.28 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.70 and a beta of 1.19.

CBS (NYSE:CBS) last released its earnings results on Thursday, November 1st. The media conglomerate reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.02. CBS had a net margin of 9.42% and a return on equity of 86.51%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm earned $1.11 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that CBS Co. will post 5.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Tuesday, December 11th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, December 10th. CBS’s dividend payout ratio is currently 17.18%.

In related news, EVP Anthony G. Ambrosio sold 11,697 shares of the stock in a transaction on Friday, September 28th. The shares were sold at an average price of $57.53, for a total transaction of $672,928.41. Following the transaction, the executive vice president now owns 80,950 shares of the company’s stock, valued at approximately $4,657,053.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anthony G. Ambrosio sold 2,234 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $58.16, for a total transaction of $129,929.44. Following the transaction, the executive vice president now directly owns 74,703 shares in the company, valued at approximately $4,344,726.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,480 shares of company stock worth $1,117,598. 0.51% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama grew its holdings in CBS by 1.0% in the 3rd quarter. Retirement Systems of Alabama now owns 268,464 shares of the media conglomerate’s stock worth $15,423,000 after acquiring an additional 2,712 shares during the last quarter. Inverness Counsel LLC NY bought a new stake in CBS in the 2nd quarter worth $4,541,000. Capital Advisors Ltd. LLC grew its holdings in CBS by 3,620.8% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock worth $154,000 after acquiring an additional 2,607 shares during the last quarter. Underhill Investment Management LLC bought a new stake in CBS in the 3rd quarter worth $6,447,000. Finally, Greenleaf Trust bought a new stake in CBS in the 2nd quarter worth $240,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

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CBS Company Profile (NYSE:CBS)

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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