CBS Co. (CBS) Stock Rating Reaffirmed by Loop Capital
Loop Capital restated their buy rating on shares of CBS Co. (NYSE:CBS) in a research note issued to investors on Wednesday. The brokerage currently has a $76.00 price target on the media conglomerate’s stock.
Several other research analysts have also recently issued reports on CBS. BMO Capital Markets cut shares of CBS from an outperform rating to a market perform rating and set a $63.00 target price for the company. in a report on Wednesday, November 23rd. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued an overweight rating and set a $69.00 target price on shares of CBS in a report on Thursday, December 8th. Telsey Advisory Group raised their target price on shares of CBS from $57.00 to $66.00 and gave the stock a market perform rating in a report on Tuesday, December 13th. Brean Capital reissued a buy rating on shares of CBS in a report on Thursday, December 15th. Finally, Wunderlich reissued a positive rating and set a $72.00 target price on shares of CBS in a report on Monday, December 19th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $69.14.
CBS (NYSE:CBS) opened at 66.91 on Wednesday. CBS has a one year low of $48.88 and a one year high of $68.59. The company has a market cap of $27.40 billion, a P/E ratio of 23.81 and a beta of 1.66. The company has a 50-day moving average of $66.14 and a 200 day moving average of $60.34.
CBS (NYSE:CBS) last issued its earnings results on Wednesday, February 15th. The media conglomerate reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.01. CBS had a net margin of 11.32% and a return on equity of 33.06%. The firm earned $3.52 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Analysts anticipate that CBS will post $4.43 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Wednesday, March 8th. CBS’s dividend payout ratio (DPR) is 20.17%.
In related news, COO Joseph R. Ianniello sold 68,869 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $67.40, for a total transaction of $4,641,770.60. Following the sale, the chief operating officer now directly owns 305,580 shares of the company’s stock, valued at approximately $20,596,092. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lawrence Tu sold 28,641 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $67.68, for a total transaction of $1,938,422.88. Following the sale, the executive vice president now directly owns 5,732 shares in the company, valued at $387,941.76. The disclosure for this sale can be found here. Insiders sold a total of 130,641 shares of company stock worth $8,741,329 over the last three months. Insiders own 1.67% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Pensionfund Sabic acquired a new stake in shares of CBS during the third quarter valued at $2,025,000. Pensionfund DSM Netherlands acquired a new stake in shares of CBS during the third quarter valued at $4,379,000. Community Trust & Investment Co. increased its stake in shares of CBS by 2.5% in the third quarter. Community Trust & Investment Co. now owns 126,816 shares of the media conglomerate’s stock valued at $6,942,000 after buying an additional 3,116 shares during the last quarter. E&G Advisors LP acquired a new stake in shares of CBS during the third quarter valued at $412,000. Finally, Bremer Trust National Association increased its stake in shares of CBS by 172.8% in the third quarter. Bremer Trust National Association now owns 31,383 shares of the media conglomerate’s stock valued at $1,718,000 after buying an additional 19,878 shares during the last quarter. 78.18% of the stock is currently owned by hedge funds and other institutional investors.
CBS 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.
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