CBS Corporation (CBS) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of CBS Corporation (NYSE:CBS) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday morning.

Several other brokerages also recently weighed in on CBS. Instinet raised their price target on shares of CBS Corporation from $72.00 to $74.00 and gave the company a buy rating in a research report on Thursday, March 30th. Wells Fargo & Company reissued an outperform rating and set a $77.50 price target (up previously from $74.00) on shares of CBS Corporation in a research report on Friday, April 7th. FBR & Co reissued a buy rating and set a $86.00 price target on shares of CBS Corporation in a research report on Friday, April 7th. Rosenblatt Securities assumed coverage on shares of CBS Corporation in a research report on Tuesday, April 4th. They set a buy rating and a $80.00 price target for the company. Finally, Nomura raised their price target on shares of CBS Corporation from $72.00 to $74.00 and gave the company a buy rating in a research report on Thursday, March 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. CBS Corporation presently has an average rating of Buy and an average target price of $71.17.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

CBS Corporation (NYSE CBS) opened at 62.24 on Wednesday. The stock has a market cap of $25.27 billion, a P/E ratio of 50.77 and a beta of 1.69. The stock has a 50 day moving average price of $62.10 and a 200-day moving average price of $64.70. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10.

CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.29 billion. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. On average, equities analysts anticipate that CBS Corporation will post $4.47 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Wednesday, June 7th. CBS Corporation’s dividend payout ratio (DPR) is 63.72%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Glenview Capital Management LLC boosted its position in CBS Corporation by 6.7% in the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock worth $379,535,000 after buying an additional 343,424 shares during the period. Alliancebernstein L.P. boosted its position in CBS Corporation by 7.1% in the first quarter. Alliancebernstein L.P. now owns 5,393,198 shares of the media conglomerate’s stock worth $374,072,000 after buying an additional 358,785 shares during the period. Geode Capital Management LLC boosted its position in CBS Corporation by 3.1% in the first quarter. Geode Capital Management LLC now owns 3,680,166 shares of the media conglomerate’s stock worth $254,889,000 after buying an additional 109,782 shares during the period. FMR LLC boosted its position in CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after buying an additional 618,593 shares during the period. Finally, Boston Partners boosted its position in CBS Corporation by 3.0% in the first quarter. Boston Partners now owns 3,242,746 shares of the media conglomerate’s stock worth $224,917,000 after buying an additional 94,956 shares during the period. Institutional investors own 76.45% of the company’s stock.

About CBS Corporation

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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