CBS’s (CBS) “Hold” Rating Reiterated at Pivotal Research
CBS (NYSE:CBS)‘s stock had its “hold” rating reiterated by equities researchers at Pivotal Research in a research report issued on Tuesday, Marketbeat reports. They presently have a $64.00 price objective on the media conglomerate’s stock, up from their previous price objective of $62.00. Pivotal Research’s target price would indicate a potential upside of 12.95% from the stock’s current price.
A number of other brokerages have also recently issued reports on CBS. Cowen reiterated a “buy” rating on shares of CBS in a report on Thursday, September 21st. Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a report on Monday. B. Riley reiterated a “buy” rating on shares of CBS in a report on Friday, November 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 target price on shares of CBS in a report on Wednesday, September 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price (down previously from $80.00) on shares of CBS in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $72.04.
Shares of CBS (NYSE:CBS) traded up $0.67 during trading hours on Tuesday, hitting $56.66. The stock had a trading volume of 3,773,426 shares, compared to its average volume of 4,091,918. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03. CBS has a 1-year low of $52.75 and a 1-year high of $70.10. The stock has a market cap of $22,690.00, a PE ratio of 16.47, a P/E/G ratio of 0.91 and a beta of 1.62.
In other CBS news, CEO Leslie Moonves sold 85,000 shares of the company’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 value of $4,917,250.00. Following the completion of the transaction, the chief executive officer now owns 884,513 shares in the company, valued at approximately $51,169,077.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles K. Gifford sold 5,093 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.33, for a total value of $291,981.69. Following the completion of the transaction, the director now owns 70,273 shares of the company’s stock, valued at approximately $4,028,751.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,279 shares of company stock valued at $5,794,978. 2.03% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CBS. Griffin Asset Management Inc. purchased a new position in shares of CBS during the 2nd quarter valued at approximately $340,000. Intellectus Partners LLC boosted its stake in shares of CBS by 8.4% during the 2nd 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 last quarter. Green Square Capital LLC boosted its stake in shares of CBS by 18.4% during the 2nd 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 last quarter. Baltimore Capital Management Inc. purchased a new position in shares of CBS during the 3rd quarter valued at approximately $570,000. Finally, Murphy Capital Management Inc. boosted its stake in shares of CBS by 40.2% during the 3rd quarter. Murphy Capital Management Inc. now owns 10,435 shares of the media conglomerate’s stock valued at $605,000 after buying an additional 2,990 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.
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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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