CBS Corporation (NYSE:CBS) Rating Reiterated by Argus

CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reiterated by equities research analysts at Argus in a report issued on Thursday. They presently have a $79.00 target price on the media conglomerate’s stock, up from their previous target price of $71.00. Argus’ target price would indicate a potential upside of 19.35% from the company’s current price.

Several other brokerages have also recently issued reports on CBS. Pivotal Research reissued a “hold” rating and set a $67.00 target price on shares of CBS Corporation in a report on Sunday, April 23rd. Rosenblatt Securities lifted their price objective on shares of CBS Corporation to $40.00 and gave the company a “neutral” rating in a report on Monday, April 17th. Guggenheim reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a report on Friday, April 14th. Needham & Company LLC lifted their price objective on shares of CBS Corporation from $72.00 to $80.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub raised shares of CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.90.

CBS Corporation (NYSE CBS) traded up 1.29% during midday trading on Thursday, hitting $66.19. The stock had a trading volume of 3,893,834 shares. The firm has a market capitalization of $26.59 billion, a P/E ratio of 168.42 and a beta of 1.71. The firm has a 50-day moving average of $64.67 and a 200 day moving average of $64.93. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10.

CBS Corporation (NYSE:CBS) last issued its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company posted $0.93 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that CBS Corporation will post $4.46 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/2800282/cbs-corporation-nysecbs-rating-reiterated-by-argus.html.

In other news, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total value of $12,758,000.00. Following the sale, the chief executive officer now directly owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the completion of the sale, the executive vice president now directly owns 60,322 shares in the company, valued at $3,865,433.76. The disclosure for this sale can be found here. Insiders sold a total of 218,707 shares of company stock worth $13,961,251 over the last three months. Insiders own 1.67% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CBS. Glenview Capital Management LLC increased its stake 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. increased its stake 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 increased its stake 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 increased its stake 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 increased its stake 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. 75.42% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

Receive News & Ratings for CBS Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.