CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a report issued on Monday. They presently have a $71.00 price objective on the media conglomerate’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 13.04% from the stock’s previous close.
CBS has been the subject of a number of other research reports. BMO Capital Markets restated an “outperform” rating on shares of CBS Corporation in a research note on Friday, May 12th. Pivotal Research reiterated a “hold” rating and set a $67.00 price objective on shares of CBS Corporation in a research note on Sunday, April 23rd. Benchmark Co. lifted their price objective on CBS Corporation from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Nomura lifted their price objective on CBS Corporation from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, March 30th. Finally, Loop Capital reiterated a “buy” rating and set a $76.00 price objective on shares of CBS Corporation in a research note on Wednesday, March 15th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. CBS Corporation presently has a consensus rating of “Buy” and a consensus price target of $71.31.
Shares of CBS Corporation (NYSE:CBS) traded up 1.40% during trading on Monday, reaching $63.69. The company’s stock had a trading volume of 1,023,011 shares. The stock’s 50 day moving average price is $61.88 and its 200-day moving average price is $64.73. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 51.95 and a beta of 1.70.
CBS Corporation (NYSE:CBS) last released its earnings results on Thursday, May 4th. The media conglomerate reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.09. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.29 billion. CBS Corporation had a return on equity of 41.55% and a net margin of 3.96%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Equities analysts anticipate that CBS Corporation will post $4.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.15%. CBS Corporation’s dividend payout ratio is 63.72%.
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In other news, EVP Gil D. Schwartz sold 5,270 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the transaction, the executive vice president now owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.67% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSB Wealth Management LLC boosted its position 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 worth $314,000 after buying an additional 12 shares in the last quarter. WASHINGTON TRUST Co boosted its position in shares of 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 during the period. 1ST Source Bank boosted its position in shares of 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 during the period. Palladium Partners LLC boosted its position in shares of 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 during the period. Finally, King Luther Capital Management Corp boosted its position in shares of CBS Corporation by 3.2% in the first quarter. King Luther Capital Management Corp now owns 4,670 shares of the media conglomerate’s stock valued at $324,000 after buying an additional 145 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
CBS Corporation Company Profile
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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