Brokerages Set CBS Co. (CBS) PT at $65.65

Shares of CBS Co. (NYSE:CBS) have earned a consensus rating of “Buy” from the twenty-four ratings firms that are currently covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $65.00.

A number of equities analysts have issued reports on the company. Imperial Capital reaffirmed a “buy” rating on shares of CBS in a research report on Monday. Cowen lowered CBS from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 31st. Royal Bank of Canada set a $63.00 target price on CBS and gave the company a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research lowered CBS from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, ValuEngine raised CBS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th.

Shares of CBS traded down $0.37 during trading on Friday, reaching $57.55. The company’s stock had a trading volume of 1,841,012 shares, compared to its average volume of 3,755,527. CBS has a twelve month low of $47.54 and a twelve month high of $61.59. The firm has a market cap of $21.73 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.74 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 3.76.

CBS (NYSE:CBS) last announced its earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.02. CBS had a return on equity of 86.51% and a net margin of 9.42%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company posted $1.11 EPS. CBS’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that CBS will post 5.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Tuesday, December 11th will be issued a $0.18 dividend. The ex-dividend date is Monday, December 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. CBS’s dividend payout ratio (DPR) is 17.18%.

In related news, EVP Anthony G. Ambrosio sold 3,449 shares of the company’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total transaction of $198,903.83. Following the completion of the transaction, the executive vice president now directly owns 72,702 shares in the company, valued at approximately $4,192,724.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Anthony G. Ambrosio sold 11,697 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $57.53, for a total value of $672,928.41. Following the transaction, the executive vice president now owns 80,950 shares of the company’s stock, valued at $4,657,053.50. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $1,117,598 over the last quarter. Company insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FIL Ltd grew its stake in CBS by 3.4% during the 3rd quarter. FIL Ltd now owns 2,053,844 shares of the media conglomerate’s stock worth $117,994,000 after buying an additional 67,476 shares during the last quarter. Globeflex Capital L P bought a new position in CBS during the 3rd quarter worth $849,000. Trustcore Financial Services LLC grew its stake in CBS by 455.0% during the 3rd quarter. Trustcore Financial Services LLC now owns 4,007 shares of the media conglomerate’s stock worth $230,000 after buying an additional 3,285 shares during the last quarter. Janus Henderson Group PLC grew its stake in CBS by 19.8% during the 3rd quarter. Janus Henderson Group PLC now owns 685,379 shares of the media conglomerate’s stock worth $39,375,000 after buying an additional 113,473 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in CBS by 28.9% during the 3rd quarter. Alliancebernstein L.P. now owns 713,129 shares of the media conglomerate’s stock worth $40,969,000 after buying an additional 159,728 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

CBS Company Profile

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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Analyst Recommendations for CBS (NYSE:CBS)

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