CBS Corp. (NYSE:CBS) has been given a $65.00 target price by equities researchers at Brean Capital in a report issued on Thursday. The brokerage currently has a a “buy” rating on the media conglomerate’s stock. Brean Capital’s price objective would suggest a potential upside of 18.74% from the company’s previous close.
Several other research firms also recently weighed in on CBS. Wells Fargo & Co. downgraded CBS Corp. to a “buy” rating in a research note on Monday, July 11th. Pivotal Research restated a “buy” rating on shares of CBS Corp. in a research note on Sunday, July 24th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, July 20th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a research note on Saturday, July 2nd. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of CBS Corp. in a research note on Friday, June 17th. Five investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $61.91.
Shares of CBS Corp. (NYSE:CBS) opened at 54.74 on Thursday. CBS Corp. has a one year low of $40.50 and a one year high of $58.22. The company has a market capitalization of $24.34 billion, a price-to-earnings ratio of 16.20 and a beta of 1.89. The company’s 50-day moving average price is $51.99 and its 200-day moving average price is $53.74.
CBS Corp. (NYSE:CBS) last posted its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that CBS Corp. will post $3.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were paid a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.32%. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
A number of hedge funds have recently made changes to their positions in the company. Capstone Asset Management Co. increased its stake in shares of CBS Corp. by 1.2% in the first quarter. Capstone Asset Management Co. now owns 31,107 shares of the media conglomerate’s stock valued at $1,714,000 after buying an additional 380 shares during the last quarter. Virginia Retirement System purchased a new stake in shares of CBS Corp. during the first quarter valued at about $387,000. IFP Advisors Inc increased its stake in shares of CBS Corp. by 104.3% in the first quarter. IFP Advisors Inc now owns 5,933 shares of the media conglomerate’s stock valued at $327,000 after buying an additional 3,029 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of CBS Corp. by 61.0% in the first quarter. Ngam Advisors L.P. now owns 140,003 shares of the media conglomerate’s stock valued at $7,713,000 after buying an additional 53,024 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of CBS Corp. by 9.7% in the first quarter. TIAA CREF Investment Management LLC now owns 4,737,980 shares of the media conglomerate’s stock valued at $261,015,000 after buying an additional 420,237 shares during the last quarter. 76.78% of the stock is owned by institutional investors and hedge funds.
About CBS Corp.
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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