CBS Co. (NYSE:CBS) Given Average Rating of “Buy” by Brokerages
Shares of CBS Co. (NYSE:CBS) have been assigned an average recommendation of “Buy” from the twenty-one analysts that are presently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $62.93.
CBS has been the topic of several research reports. Loop Capital upped their price objective on shares of CBS to $65.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Wolfe Research upgraded shares of CBS from a “peer perform” rating to an “outperform” rating in a research note on Thursday, May 30th. TheStreet raised shares of CBS from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Finally, Barrington Research dropped their price target on shares of CBS from $72.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th.
Institutional investors have recently bought and sold shares of the business. Chicago Equity Partners LLC lifted its position in shares of CBS by 13.4% during the 4th quarter. Chicago Equity Partners LLC now owns 12,610 shares of the media conglomerate’s stock valued at $551,000 after buying an additional 1,490 shares in the last quarter. LSV Asset Management lifted its position in shares of CBS by 7.1% during the 4th quarter. LSV Asset Management now owns 398,100 shares of the media conglomerate’s stock valued at $17,404,000 after buying an additional 26,400 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of CBS by 35.6% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 57,843 shares of the media conglomerate’s stock valued at $2,529,000 after buying an additional 15,193 shares in the last quarter. Cerity Partners LLC lifted its position in shares of CBS by 32.0% during the 4th quarter. Cerity Partners LLC now owns 15,301 shares of the media conglomerate’s stock valued at $669,000 after buying an additional 3,713 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of CBS by 50.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 466,687 shares of the media conglomerate’s stock valued at $20,402,000 after buying an additional 155,492 shares in the last quarter. 73.14% of the stock is currently owned by hedge funds and other institutional investors.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.31 billion. CBS had a net margin of 20.32% and a return on equity of 66.79%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. Equities research analysts anticipate that CBS will post 5.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. CBS’s dividend payout ratio (DPR) is 13.87%.
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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