CBS Corporation Target of Unusually Large Options Trading (CBS)
CBS Corporation (NYSE:CBS) was the recipient of some unusual options trading on Monday. Traders purchased 7,736 call options on the stock. This represents an increase of approximately 179% compared to the average volume of 2,770 call options.
In related news, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total value of $520,891.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total value of $12,758,000.00. Following the completion of the sale, the chief executive officer now owns 1,232,652 shares in the company, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. Insiders sold a total of 575,735 shares of company stock worth $35,881,495 in the last quarter. Company insiders own 2.03% of the company’s stock.
A number of large investors have recently bought and sold shares of CBS. Focused Investors LLC acquired a new position in CBS Corporation in the second quarter worth about $72,467,000. Scopus Asset Management L.P. grew its stake in CBS Corporation by 166.7% in the first quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock worth $93,636,000 after purchasing an additional 843,900 shares in the last quarter. FMR LLC grew its stake in CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after purchasing an additional 618,593 shares in the last quarter. BlueCrest Capital Management Ltd grew its stake in CBS Corporation by 957.7% in the first quarter. BlueCrest Capital Management Ltd now owns 431,485 shares of the media conglomerate’s stock worth $29,928,000 after purchasing an additional 390,689 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in CBS Corporation in the first quarter worth about $26,684,000. Institutional investors and hedge funds own 75.08% of the company’s stock.
Several equities research analysts have weighed in on the company. Cowen and Company restated a “buy” rating on shares of CBS Corporation in a report on Thursday, September 21st. Citigroup Inc. restated a “buy” rating and set a $75.00 price target (down previously from $76.00) on shares of CBS Corporation in a report on Wednesday. BidaskClub upgraded CBS Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC restated a “buy” rating and set a $71.00 price target on shares of CBS Corporation in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $77.00 price target (up previously from $75.00) on shares of CBS Corporation in a report on Tuesday, August 8th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $74.94.
Shares of CBS Corporation (CBS) opened at 59.97 on Thursday. The firm has a market capitalization of $24.09 billion, a PE ratio of 152.60 and a beta of 1.68. CBS Corporation has a 12 month low of $54.37 and a 12 month high of $70.10. The company has a 50 day moving average price of $61.19 and a 200-day moving average price of $63.77.
CBS Corporation (NYSE:CBS) last posted its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. Equities research analysts expect that CBS Corporation will post $4.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were paid a $0.18 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. CBS Corporation’s dividend payout ratio (DPR) is 211.76%.
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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.
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