CBS Corp. (NYSE:CBS)‘s stock had its “outperform” rating reiterated by equities researchers at Credit Suisse Group AG in a report released on Wednesday. They presently have a $75.00 price objective on the media conglomerate’s stock. Credit Suisse Group AG’s price target would suggest a potential upside of 33.43% from the company’s previous close.
A number of other research firms have also commented on CBS. Jefferies Group reaffirmed a “buy” rating on shares of CBS Corp. in a research report on Monday, September 12th. Drexel Hamilton started coverage on shares of CBS Corp. in a research report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of CBS Corp. in a research report on Thursday, June 30th. Brean Capital set a $65.00 price target on shares of CBS Corp. and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $63.00 price target on shares of CBS Corp. in a research report on Sunday, July 31st. Five investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $62.64.
CBS Corp. (NYSE:CBS) opened at 56.21 on Wednesday. The firm has a 50 day moving average of $52.42 and a 200-day moving average of $53.79. The company has a market capitalization of $24.99 billion, a P/E ratio of 16.63 and a beta of 1.81. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22.
CBS Corp. (NYSE:CBS) last issued its quarterly earnings data 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 had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, analysts forecast that CBS Corp. will post $3.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s payout ratio is currently 21.30%.
Hedge funds have recently added to or reduced their stakes in the stock. Societe Generale bought a new stake in CBS Corp. during the second quarter valued at $109,000. M&R Capital Management Inc. bought a new stake in CBS Corp. during the second quarter valued at $123,000. NN Investment Partners Holdings N.V. bought a new stake in CBS Corp. during the first quarter valued at $141,000. Trust Department MB Financial Bank N A raised its stake in CBS Corp. by 457.3% in the second quarter. Trust Department MB Financial Bank N A now owns 2,809 shares of the media conglomerate’s stock valued at $156,000 after buying an additional 2,305 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in CBS Corp. during the second quarter valued at $159,000. Institutional investors own 76.78% of the company’s stock.
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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