CBS Co. (NYSE:CBS) has been assigned an average recommendation of “Buy” from the twenty-eight ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.90.
Several equities research analysts have issued reports on CBS shares. Barrington Research reiterated a “buy” rating and set a $71.00 target price on shares of CBS in a research report on Monday, August 6th. ValuEngine lowered shares of CBS from a “sell” rating to a “strong sell” rating in a research report on Monday, July 30th. Imperial Capital started coverage on shares of CBS in a research report on Thursday, June 28th. They set an “outperform” rating and a $71.00 target price for the company. Credit Suisse Group started coverage on shares of CBS in a research report on Tuesday, July 10th. They set an “overweight” rating and a $66.00 target price for the company. Finally, UBS Group lowered shares of CBS from a “buy” rating to a “neutral” rating and dropped their target price for the company from $72.00 to $60.00 in a research report on Monday, September 10th.
In other news, EVP Anthony G. Ambrosio sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $55.16, for a total value of $115,836.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony G. Ambrosio sold 11,697 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $57.53, for a total transaction of $672,928.41. Following the completion of the sale, 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. Over the last 90 days, insiders sold 32,925 shares of company stock valued at $1,882,469. Company insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Klingenstein Fields & Co. LLC increased its stake in shares of CBS by 6.1% in the second quarter. Klingenstein Fields & Co. LLC now owns 445,675 shares of the media conglomerate’s stock worth $25,056,000 after buying an additional 25,649 shares during the period. Inverness Counsel LLC NY purchased a new position in shares of CBS in the second quarter worth $4,541,000. Natixis increased its stake in shares of CBS by 4,631.2% in the first quarter. Natixis now owns 165,543 shares of the media conglomerate’s stock worth $8,507,000 after buying an additional 162,044 shares during the period. Mathes Company Inc. purchased a new position in shares of CBS in the second quarter worth $250,000. Finally, Greenleaf Trust purchased a new position in shares of CBS in the second quarter worth $240,000. 74.89% of the stock is currently owned by institutional investors.
CBS stock traded up $0.50 during mid-day trading on Wednesday, hitting $54.32. 2,469,114 shares of the company traded hands, compared to its average volume of 3,837,750. CBS has a one year low of $47.54 and a one year high of $61.59. The firm has a market cap of $21.60 billion, a PE ratio of 12.96, a PEG ratio of 0.72 and a beta of 1.36. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.60 and a quick ratio of 1.10.
CBS (NYSE:CBS) last announced its earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. CBS had a net margin of 10.21% and a return on equity of 81.10%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the business posted $1.04 earnings per share. CBS’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that CBS will post 5.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were issued a $0.18 dividend. The ex-dividend date was Friday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.33%. CBS’s payout ratio is 17.18%.
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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