CBS (NYSE:CBS) had its price objective dropped by Loop Capital from $79.00 to $60.00 in a research report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the media conglomerate’s stock. Loop Capital’s price objective indicates a potential upside of 16.26% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CBS. Stephens cut CBS from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $72.00 to $64.00 in a report on Monday, January 22nd. Wells Fargo cut CBS from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a report on Monday, January 29th. ValuEngine cut CBS from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Pivotal Research reaffirmed a “hold” rating and issued a $64.00 price objective on shares of CBS in a report on Friday, February 16th. Finally, B. Riley dropped their price objective on CBS from $84.00 to $73.00 and set a “buy” rating for the company in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. CBS presently has an average rating of “Buy” and a consensus price target of $68.47.

Shares of NYSE CBS opened at $51.61 on Friday. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 0.73 and a beta of 1.49. The company has a quick ratio of 1.13, a current ratio of 1.52 and a debt-to-equity ratio of 4.78. CBS has a fifty-two week low of $53.76 and a fifty-two week high of $54.58.

CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.15. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.65 billion. CBS had a return on equity of 77.15% and a net margin of 7.94%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. equities research analysts forecast that CBS will post 5.24 EPS for the current fiscal year.

In related news, CEO Leslie Moonves sold 75,000 shares of the business’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $51.53, for a total transaction of $3,864,750.00. Following the sale, the chief executive officer now owns 670,531 shares in the company, valued at approximately $34,552,462.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 330,000 shares of company stock worth $17,174,900 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in CBS by 22.2% during the 4th quarter. Bank of Montreal Can now owns 593,901 shares of the media conglomerate’s stock worth $35,040,000 after buying an additional 107,808 shares during the period. National Pension Service lifted its holdings in CBS by 4.0% during the 4th quarter. National Pension Service now owns 401,236 shares of the media conglomerate’s stock worth $23,673,000 after buying an additional 15,591 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in CBS by 2.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,411,688 shares of the media conglomerate’s stock worth $83,290,000 after buying an additional 39,897 shares during the period. State of Alaska Department of Revenue lifted its holdings in CBS by 209.9% during the 4th quarter. State of Alaska Department of Revenue now owns 43,365 shares of the media conglomerate’s stock worth $2,556,000 after buying an additional 29,371 shares during the period. Finally, Hollencrest Capital Management acquired a new position in CBS during the 4th quarter worth about $515,000. Institutional investors and hedge funds own 77.91% of the company’s stock.

About CBS

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

The Fly

Analyst Recommendations for CBS (NYSE:CBS)

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