CBS’s (CBS) “Hold” Rating Reaffirmed at Pivotal Research

Pivotal Research reissued their hold rating on shares of CBS (NYSE:CBS) in a report issued on Tuesday, January 9th, MarketBeat Ratings reports. The brokerage currently has a $64.00 target price on the media conglomerate’s stock, up from their prior target price of $62.00.

A number of other research firms also recently weighed in on CBS. Cowen reissued a buy rating on shares of CBS in a report on Thursday, September 21st. Zacks Investment Research upgraded CBS from a sell rating to a hold rating in a research report on Monday, January 8th. B. Riley restated a buy rating on shares of CBS in a research report on Friday, November 3rd. Rosenblatt Securities restated a buy rating and issued a $80.00 price target on shares of CBS in a research report on Wednesday, September 20th. Finally, Needham & Company LLC restated a buy rating and issued a $70.00 price target (down previously from $80.00) on shares of CBS in a research report on Friday, November 3rd. Seven research 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 company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $71.96.

Shares of CBS (CBS) traded down $2.25 during trading hours on Tuesday, hitting $57.75. The stock had a trading volume of 6,220,000 shares, compared to its average volume of 3,990,000. The company has a market capitalization of $23,130.00, a P/E ratio of 16.79, a P/E/G ratio of 0.95 and a beta of 1.62. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.10 and a current ratio of 1.55. CBS has a 1 year low of $52.75 and a 1 year high of $70.10.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. sell-side analysts expect that CBS will post 4.39 EPS for the current year.

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

In other news, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total value of $4,917,250.00. Following the completion of the sale, the chief executive officer now directly owns 884,513 shares of the company’s stock, valued at approximately $51,169,077.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arnold Kopelson sold 5,093 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were 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. Insiders sold a total of 187,679 shares of company stock valued at $10,960,240 over the last ninety days. Corporate insiders own 1.67% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. FNY Managed Accounts LLC bought a new stake in shares of CBS during the 3rd quarter worth approximately $2,031,000. Engine Capital Management LLC bought a new stake in shares of CBS during the 3rd quarter worth approximately $2,610,000. Community Trust & Investment Co. lifted its stake in shares of CBS 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 acquiring an additional 2,073 shares during the last quarter. Amalgamated Bank lifted its stake in shares of CBS by 53.2% during the 2nd quarter. Amalgamated Bank now owns 42,344 shares of the media conglomerate’s stock worth $2,701,000 after acquiring an additional 14,700 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of CBS during the 3rd quarter worth approximately $1,740,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for CBS (NYSE:CBS)

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