Analysts Set CBS Corporation (CBS) Target Price at $73.33
CBS Corporation (NYSE:CBS) has been assigned a consensus recommendation of “Buy” from the thirty-one research firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $73.33.
A number of equities research analysts have recently issued reports on CBS shares. Argus reiterated a “buy” rating and issued a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 target price (up previously from $71.00) on shares of CBS Corporation in a research note on Wednesday, August 9th. BMO Capital Markets reiterated a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a research note on Tuesday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a research note on Tuesday, August 8th. Finally, Benchmark Co. increased their target price on CBS Corporation from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th.
Shares of CBS Corporation (NYSE:CBS) traded down $0.50 during trading hours on Friday, reaching $56.24. The company’s stock had a trading volume of 6,799,755 shares, compared to its average volume of 4,122,387. The firm has a market capitalization of $22,550.00, a price-to-earnings ratio of 13.01, a PEG ratio of 1.01 and a beta of 1.62. 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 Corporation has a 12 month low of $52.75 and a 12 month high of $70.10.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. CBS Corporation had a return on equity of 58.49% and a net margin of 2.14%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. research analysts predict that CBS Corporation will post 4.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Monday, December 11th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, December 8th. CBS Corporation’s dividend payout ratio is currently 20.93%.
In related news, CEO Leslie Moonves sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $57.62, for a total value of $8,643,000.00. Following the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at approximately $68,144,408.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles K. Gifford sold 5,093 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.33, for a total value of $291,981.69. Following the completion of the sale, the director now owns 70,273 shares in the company, valued at $4,028,751.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,317 shares of company stock worth $21,234,894. 2.03% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Dupont Capital Management Corp acquired a new stake in CBS Corporation in the 2nd quarter valued at approximately $102,000. Parallel Advisors LLC increased its position in CBS Corporation by 42.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after acquiring an additional 532 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in CBS Corporation in the 2nd quarter valued at approximately $205,000. Bridgewater Wealth & Financial Management LLC increased its position in CBS Corporation by 12.3% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after acquiring an additional 374 shares during the period. Finally, Palladium Partners LLC increased its position in CBS Corporation by 6.8% in the 2nd quarter. Palladium Partners LLC now owns 3,757 shares of the media conglomerate’s stock valued at $240,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 74.72% 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.
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