CBS (CBS) Receives “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of CBS (NYSE:CBS) in a report published on Tuesday. Benchmark currently has a $78.00 target price on the media conglomerate’s stock.

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.

CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.04. CBS had a net margin of 2.14% and a return on equity of 58.49%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. equities analysts predict that CBS will post 4.39 EPS for the current year.

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.

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About CBS

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 (NYSE:CBS)

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