Shares of CBS Corporation (NYSE:CBS) have received an average recommendation of “Buy” from the twenty-nine ratings firms that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $72.90.
Several equities research analysts recently weighed in on CBS shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of CBS Corporation in a research report on Friday, May 12th. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Pivotal Research reissued a “hold” rating and set a $67.00 target price on shares of CBS Corporation in a research note on Sunday, April 23rd. Benchmark Co. boosted their target price on CBS Corporation from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Guggenheim reissued a “buy” rating and set a $78.00 target price on shares of CBS Corporation in a research note on Tuesday, June 13th.
Shares of CBS Corporation (CBS) opened at 66.19 on Friday. The company’s 50 day moving average is $64.67 and its 200-day moving average is $64.93. CBS Corporation has a 12 month low of $48.88 and a 12 month high of $70.10. The firm has a market cap of $26.59 billion, a PE ratio of 168.42 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last posted its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. CBS Corporation’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that CBS Corporation will post $4.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s dividend payout ratio is presently 211.76%.
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In other news, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was 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 of the company’s stock, valued at approximately $3,865,433.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,707 shares of company stock valued at $13,961,251. Insiders own 1.67% of the company’s stock.
A number of large investors have recently made changes to their positions in CBS. Macquarie Group Ltd. raised its stake in shares of CBS Corporation by 43.4% in the fourth quarter. Macquarie Group Ltd. now owns 286,227 shares of the media conglomerate’s stock valued at $18,210,000 after buying an additional 86,661 shares during the period. Raymond James Trust N.A. raised its stake in shares of CBS Corporation by 9.6% in the first quarter. Raymond James Trust N.A. now owns 5,238 shares of the media conglomerate’s stock valued at $363,000 after buying an additional 459 shares during the period. Chesley Taft & Associates LLC purchased a new stake in shares of CBS Corporation during the first quarter valued at $223,000. BKD Wealth Advisors LLC raised its stake in shares of CBS Corporation by 6.7% in the first quarter. BKD Wealth Advisors LLC now owns 5,656 shares of the media conglomerate’s stock valued at $392,000 after buying an additional 354 shares during the period. Finally, Atria Investments LLC purchased a new stake in shares of CBS Corporation during the first quarter valued at $309,000. 75.42% of the stock is owned by institutional investors.
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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