CBS Corporation (CBS) Price Target Lowered to $70.00 at Credit Suisse Group
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.
ILLEGAL ACTIVITY NOTICE: “CBS Corporation (CBS) Price Target Lowered to $70.00 at Credit Suisse Group” was posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.watchlistnews.com/cbs-corporation-cbs-price-target-lowered-to-70-00-at-credit-suisse-group/1685133.html.
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.
Receive News & Ratings for CBS Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.