A number of other analysts also recently commented on CBS. Zacks Investment Research downgraded CBS Corp. from a buy rating to a hold rating in a report on Wednesday, August 3rd. Morgan Stanley restated an overweight rating on shares of CBS Corp. in a report on Wednesday, June 29th. Wells Fargo & Co. downgraded CBS Corp. to a buy rating in a report on Monday, July 11th. Jefferies Group restated a buy rating on shares of CBS Corp. in a report on Monday, August 1st. Finally, Brean Capital restated a buy rating and set a $65.00 price objective on shares of CBS Corp. in a report on Sunday, July 17th. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $62.64.
CBS Corp. (NYSE:CBS) traded up 1.413% during mid-day trading on Tuesday, reaching $56.335. The company’s stock had a trading volume of 1,824,620 shares. CBS Corp. has a 1-year low of $41.36 and a 1-year high of $58.22. The stock has a market capitalization of $25.05 billion, a P/E ratio of 16.667 and a beta of 1.81. The stock’s 50 day moving average price is $52.15 and its 200 day moving average price is $53.75.
CBS Corp. (NYSE:CBS) last issued its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. CBS Corp.’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Analysts expect that CBS Corp. will post $3.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were paid a $0.18 dividend. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.30%. CBS Corp.’s dividend payout ratio (DPR) is currently 21.30%.
A number of institutional investors have recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. raised its position in CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock worth $102,515,000 after buying an additional 1,882,927 shares in the last quarter. Bessemer Group Inc. raised its position in CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock worth $89,471,000 after buying an additional 1,642,998 shares in the last quarter. Cibc World Markets Corp purchased a new position in CBS Corp. during the second quarter worth approximately $72,230,000. Numeric Investors LLC raised its position in CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock worth $64,442,000 after buying an additional 1,177,318 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in CBS Corp. during the first quarter worth approximately $51,458,000. 76.78% of the stock is owned by hedge funds and other institutional investors.
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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