Several other research firms have also commented on CBS. Wells Fargo & Co. lowered CBS Corp. to a buy rating in a research note on Monday, July 11th. Brean Capital restated a buy rating and issued a $65.00 price objective on shares of CBS Corp. in a research note on Sunday, July 17th. 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 for the company in a research note on Wednesday, July 20th. Finally, Needham & Company LLC reiterated a buy rating and issued a $65.00 price target on shares of CBS Corp. in a research note on Saturday, July 2nd. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. CBS Corp. has an average rating of Buy and a consensus target price of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 56.41 on Friday. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 16.69 and a beta of 1.81. The stock has a 50 day moving average price of $52.29 and a 200-day moving average price of $53.77. CBS Corp. has a 1-year low of $41.36 and a 1-year high of $58.22.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the consensus estimate of $0.86 by $0.07. The firm earned $3.29 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $0.74 EPS. Equities research analysts forecast that CBS Corp. will post $3.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.28%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, September 7th. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
Institutional investors have recently modified their holdings of the stock. Capstone Asset Management Co. raised its position in 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 in the last quarter. Virginia Retirement System purchased a new position in CBS Corp. during the first quarter valued at about $387,000. IFP Advisors Inc raised its position in 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 in the last quarter. Ngam Advisors L.P. raised its position in 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 in the last quarter. Finally, Teachers Advisors Inc. raised its position in CBS Corp. by 21.0% in the first quarter. Teachers Advisors Inc. now owns 980,546 shares of the media conglomerate’s stock valued at $54,018,000 after buying an additional 170,093 shares in the last quarter. 76.78% of the stock is currently owned by institutional investors.
CBS Corp. Company Profile
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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