BMO Capital Markets reaffirmed their buy rating on shares of CBS Corporation (NYSE:CBS) in a report published on Wednesday. The firm currently has a $75.00 price target on the media conglomerate’s stock.
Several other equities analysts have also weighed in on CBS. KeyCorp restated a hold rating on shares of CBS Corporation in a report on Tuesday. Royal Bank Of Canada restated an outperform rating and set a $77.00 target price (up previously from $75.00) on shares of CBS Corporation in a report on Tuesday, August 8th. Argus restated a buy rating and set a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. Jefferies Group LLC restated a buy rating and set a $73.00 target price (up previously from $71.00) on shares of CBS Corporation in a report on Wednesday, August 9th. Finally, Needham & Company LLC restated a buy rating and set a $80.00 target price on shares of CBS Corporation in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned 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 price target of $74.67.
CBS Corporation (NYSE CBS) traded up 1.53% on Wednesday, reaching $57.83. The company’s stock had a trading volume of 1,966,845 shares. The stock has a market capitalization of $23.23 billion, a P/E ratio of 147.15 and a beta of 1.68. CBS Corporation has a 52 week low of $54.93 and a 52 week high of $70.10. The firm has a 50 day moving average price of $59.09 and a 200 day moving average price of $63.04.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the company earned $0.93 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that CBS Corporation will post $4.45 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were paid a $0.18 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.25%. CBS Corporation’s dividend payout ratio is presently 211.76%.
In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.96, for a total value of $538,695.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Leslie Moonves sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $64.68, for a total transaction of $9,702,000.00. Following the completion of the transaction, the chief executive officer now owns 1,182,652 shares in the company, valued at approximately $76,493,931.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,568 shares of company stock worth $31,245,604. Company insiders own 1.67% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Pensionfund Sabic acquired a new position in shares of CBS Corporation during the 3rd quarter worth $1,636,000. Pensionfund DSM Netherlands acquired a new position in shares of CBS Corporation during the 3rd quarter worth $2,958,000. Eqis Capital Management Inc. increased its stake in shares of CBS Corporation by 11.5% during the 3rd quarter. Eqis Capital Management Inc. now owns 21,847 shares of the media conglomerate’s stock worth $1,267,000 after purchasing an additional 2,256 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in shares of CBS Corporation during the 2nd quarter worth $340,000. Finally, Sentry Investment Management LLC increased its stake in shares of CBS Corporation by 1.5% during the 2nd quarter. Sentry Investment Management LLC now owns 88,682 shares of the media conglomerate’s stock worth $5,656,000 after purchasing an additional 1,279 shares during the last quarter. Institutional investors own 75.06% 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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