CBS Corporation (NYSE:CBS) had its target price lowered by Credit Suisse Group from $75.00 to $70.00 in a research note issued to investors on Friday morning. The brokerage currently has an outperform rating on the media conglomerate’s stock.

CBS has been the topic of a number of other reports. Royal Bank Of Canada cut their target price on CBS Corporation from $77.00 to $66.00 and set an outperform rating on the stock in a research note on Friday. Cowen and Company reissued a buy rating and issued a $69.00 target price on shares of CBS Corporation in a research note on Friday, October 27th. Zacks Investment Research raised CBS Corporation from a sell rating to a hold rating in a research note on Monday, October 30th. ValuEngine cut CBS Corporation from a buy rating to a hold rating in a research note on Monday, September 11th. Finally, Guggenheim reissued a buy rating and issued a $78.00 target price on shares of CBS Corporation in a research note on Friday, October 6th. Six equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. CBS Corporation presently has an average rating of Buy and an average price target of $73.33.

Shares of CBS Corporation (NYSE CBS) opened at $56.96 on Friday. CBS Corporation has a 12 month low of $52.75 and a 12 month high of $70.10. The company has a market capitalization of $22,251.52, a price-to-earnings ratio of 12.88, a PEG ratio of 0.97 and a beta of 1.62. 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 Corporation (NYSE:CBS) last released its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. CBS Corporation had a return on equity of 58.49% and a net margin of 2.14%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. equities research analysts anticipate that CBS Corporation will post 4.41 EPS for the current year.

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In related news, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.96, for a total transaction of $538,695.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Leslie Moonves sold 150,000 shares of CBS Corporation stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $64.68, for a total value of $9,702,000.00. Following the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at approximately $76,493,931.36. The disclosure for this sale can be found here. Insiders have sold a total of 512,298 shares of company stock worth $30,900,946 in the last three months. 2.03% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dupont Capital Management Corp purchased a new position in CBS Corporation during the 2nd quarter valued at approximately $102,000. Parallel Advisors LLC grew its holdings in CBS Corporation by 42.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after buying an additional 532 shares in the last quarter. Independent Portfolio Consultants Inc. grew its holdings in CBS Corporation by 31.4% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock valued at $187,000 after buying an additional 701 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in CBS Corporation during the 2nd quarter valued at approximately $205,000. Finally, Bridgewater Wealth & Financial Management LLC grew its holdings in CBS Corporation by 12.3% during the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after buying an additional 374 shares in the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.

About CBS Corporation

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.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

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