A number of other analysts have also weighed in on CBS. Rosenblatt Securities reissued a buy rating and issued a $80.00 price objective on shares of CBS in a research report on Wednesday, September 20th. Cowen reissued a buy rating on shares of CBS in a research report on Thursday, September 21st. Jefferies Group reissued a buy rating and issued a $73.00 price objective on shares of CBS in a research report on Tuesday, October 3rd. Citigroup reissued a buy rating and issued a $75.00 price objective (down from $76.00) on shares of CBS in a research report on Wednesday, October 4th. Finally, Guggenheim reissued a buy rating and issued a $78.00 price objective on shares of CBS in a research report on Friday, October 6th. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $71.96.
CBS (NYSE CBS) traded down $0.64 during trading on Tuesday, reaching $58.79. 4,845,438 shares of the company were exchanged, compared to its average volume of 4,423,750. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10. CBS has a 12 month low of $52.75 and a 12 month high of $70.10. The stock has a market cap of $23,520.00, a price-to-earnings ratio of 17.09, a P/E/G ratio of 0.93 and a beta of 1.62.
The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Monday, December 11th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, December 8th. CBS’s dividend payout ratio (DPR) is presently 20.93%.
In other news, Director Bruce S. Gordon sold 5,093 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $55.50, for a total transaction of $282,661.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total transaction of $4,917,250.00. Following the transaction, the chief executive officer now directly owns 884,513 shares in the company, valued at $51,169,077.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,279 shares of company stock worth $5,794,978. Corporate insiders own 2.03% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. purchased a new position in CBS during the second quarter valued at approximately $340,000. Intellectus Partners LLC increased its holdings in CBS by 8.4% during the second quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock valued at $422,000 after buying an additional 509 shares during the period. Green Square Capital LLC increased its holdings in CBS by 18.4% during the second quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock valued at $473,000 after buying an additional 1,150 shares during the period. Baltimore Capital Management Inc. purchased a new position in CBS during the third quarter valued at approximately $570,000. Finally, Spirit of America Management Corp NY increased its holdings in CBS by 24.7% during the fourth quarter. Spirit of America Management Corp NY now owns 10,100 shares of the media conglomerate’s stock valued at $596,000 after buying an additional 2,000 shares during the period. 74.77% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “CBS (CBS) Receives “Buy” Rating from Benchmark” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.tickerreport.com/banking-finance/3142968/cbs-cbs-receives-buy-rating-from-benchmark.html.
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.
Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.