CBS Co. (NYSE:CBS) announced a quarterly dividend on Tuesday, November 6th, Wall Street Journal reports. Investors of record on Tuesday, December 11th will be given a dividend of 0.18 per share by the media conglomerate on Tuesday, January 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, December 10th.
CBS has raised its dividend by an average of 12.2% annually over the last three years and has raised its dividend every year for the last 6 years. CBS has a dividend payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Analysts expect CBS to earn $5.78 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 12.5%.
CBS opened at $51.35 on Wednesday. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.05 and a current ratio of 1.51. CBS has a 1 year low of $47.54 and a 1 year high of $61.59. The company has a market capitalization of $20.28 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.69 and a beta of 1.19.
Several equities research analysts recently issued reports on the stock. Argus cut shares of CBS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised shares of CBS from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. B. Riley lifted their price target on shares of CBS from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research cut shares of CBS from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of CBS in a research report on Friday, November 2nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.14.
In other news, EVP Anthony G. Ambrosio sold 3,449 shares of the business’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of $57.67, for a total transaction of $198,903.83. Following the transaction, the executive vice president now directly owns 72,702 shares of the company’s stock, valued at $4,192,724.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Anthony G. Ambrosio sold 2,234 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was 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 $4,344,726.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $1,117,598. Corporate insiders own 0.51% 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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