CBS Corporation (NYSE:CBS) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, July 25th.
A number of other equities analysts also recently commented on CBS. Rosenblatt Securities raised their target price on shares of CBS Corporation to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research note on Wednesday, June 28th. Guggenheim reaffirmed a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research note on Friday, April 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $71.00 price target on shares of CBS Corporation in a research note on Wednesday, June 14th. Finally, Telsey Advisory Group lifted their price target on shares of CBS Corporation from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $71.98.
Shares of CBS Corporation (CBS) opened at 63.62 on Tuesday. The firm has a 50-day moving average price of $64.01 and a 200-day moving average price of $64.87. CBS Corporation has a 12 month low of $48.88 and a 12 month high of $70.10. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 51.89 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.09. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.29 billion. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. CBS Corporation’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.02 EPS. Equities analysts expect that CBS Corporation will post $4.44 EPS for the current fiscal year.
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In other news, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the sale, the chief executive officer now owns 1,232,652 shares in the company, valued at $78,630,871.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total transaction of $344,658.00. Following the sale, the executive vice president now owns 60,322 shares in the company, valued at approximately $3,945,058.80. The disclosure for this sale can be found here. Insiders sold a total of 218,707 shares of company stock worth $13,961,251 over the last quarter. Insiders own 1.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CBS. GSB Wealth Management LLC raised its stake in CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock valued at $314,000 after buying an additional 12 shares in the last quarter. WASHINGTON TRUST Co raised its stake in CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock valued at $311,000 after buying an additional 37 shares in the last quarter. 1ST Source Bank raised its stake in CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock valued at $300,000 after buying an additional 50 shares in the last quarter. Palladium Partners LLC raised its stake in CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock valued at $244,000 after buying an additional 60 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC raised its stake in CBS Corporation by 1.0% in the second quarter. Osborn Williams & Donohoe LLC now owns 10,312 shares of the media conglomerate’s stock valued at $658,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.33% of the company’s stock.
About CBS Corporation
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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