CBS Corporation (CBS) Rating Lowered to Hold at ValuEngine

CBS Corporation (NYSE:CBS) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other equities research analysts have also recently weighed in on the stock. Cowen and Company reissued an “outperform” rating and set a $70.00 price target on shares of CBS Corporation in a research report on Monday, May 15th. Royal Bank Of Canada set a $75.00 price target on shares of CBS Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. Guggenheim reissued a “buy” rating and set a $78.00 price target on shares of CBS Corporation in a research report on Tuesday, June 13th. Jefferies Group LLC reissued a “buy” rating and set a $71.00 price target on shares of CBS Corporation in a research report on Wednesday, June 14th. Finally, BidaskClub raised shares of CBS Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. CBS Corporation currently has a consensus rating of “Buy” and an average target price of $73.44.

CBS Corporation (NYSE CBS) opened at 58.82 on Monday. The stock’s 50 day moving average is $64.69 and its 200 day moving average is $64.82. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10. The company has a market cap of $23.63 billion, a P/E ratio of 149.67 and a beta of 1.70.

CBS Corporation (NYSE:CBS) last announced its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company 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 company earned $0.93 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that CBS Corporation will post $4.46 earnings per share for the current fiscal year.

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In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total transaction of $520,891.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the sale, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at $78,630,871.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,874 shares of company stock valued at $24,201,946. 2.03% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CBS. First Trust Advisors LP increased its stake in CBS Corporation by 8.5% during the 1st quarter. First Trust Advisors LP now owns 147,177 shares of the media conglomerate’s stock valued at $10,208,000 after purchasing an additional 11,578 shares in the last quarter. LS Investment Advisors LLC increased its stake in CBS Corporation by 7.8% during the 1st quarter. LS Investment Advisors LLC now owns 7,219 shares of the media conglomerate’s stock valued at $501,000 after purchasing an additional 521 shares in the last quarter. Swiss National Bank increased its stake in CBS Corporation by 22.1% during the 1st quarter. Swiss National Bank now owns 1,388,925 shares of the media conglomerate’s stock valued at $96,336,000 after purchasing an additional 251,500 shares in the last quarter. World Asset Management Inc increased its stake in CBS Corporation by 12.2% during the 1st quarter. World Asset Management Inc now owns 43,424 shares of the media conglomerate’s stock valued at $3,012,000 after purchasing an additional 4,733 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its stake in CBS Corporation by 1.5% during the 1st quarter. Meadow Creek Investment Management LLC now owns 86,020 shares of the media conglomerate’s stock valued at $5,966,000 after purchasing an additional 1,292 shares in the last quarter. Institutional investors and hedge funds own 75.09% of the company’s stock.

CBS Corporation Company Profile

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)

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