CBS Corporation’s (CBS) Buy Rating Reiterated at Citigroup Inc.
Citigroup Inc. restated their buy rating on shares of CBS Corporation (NYSE:CBS) in a report issued on Wednesday. They currently have a $75.00 price target on the media conglomerate’s stock, down from their prior price target of $76.00.
A number of other analysts have also recently commented on CBS. Royal Bank Of Canada set a $75.00 price objective on CBS Corporation and gave the company a buy rating in a research report on Tuesday, June 6th. Guggenheim restated a buy rating and issued a $78.00 price objective on shares of CBS Corporation in a research report on Tuesday, June 13th. Jefferies Group LLC restated a buy rating and issued a $71.00 price objective on shares of CBS Corporation in a research report on Wednesday, June 14th. BidaskClub upgraded CBS Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Finally, Benchmark Co. restated a buy rating and issued a $76.00 price objective on shares of CBS Corporation in a research report on Friday, June 16th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. CBS Corporation presently has a consensus rating of Buy and an average price target of $74.94.
CBS Corporation (NYSE:CBS) opened at 58.30 on Wednesday. The stock has a market capitalization of $23.42 billion, a PE ratio of 148.35 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 $60.76 and a 200-day moving average price of $63.67.
CBS Corporation (NYSE:CBS) last posted its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Analysts expect that CBS Corporation will post $4.46 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This report was first posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.watchlistnews.com/cbs-corporations-cbs-buy-rating-reiterated-at-citigroup-inc/1617626.html.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is presently 211.76%.
In other news, CEO Leslie Moonves sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total value of $12,758,000.00. Following the transaction, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 575,735 shares of company stock worth $35,881,495. Corporate insiders own 1.67% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Glenview Capital Management LLC lifted its stake in shares of CBS Corporation by 6.7% in the 1st quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock valued at $379,535,000 after purchasing an additional 343,424 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of CBS Corporation by 7.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,393,198 shares of the media conglomerate’s stock valued at $374,072,000 after purchasing an additional 358,785 shares during the last quarter. Fred Alger Management Inc. lifted its stake in shares of CBS Corporation by 0.6% in the 2nd quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock valued at $311,252,000 after purchasing an additional 29,986 shares during the last quarter. Geode Capital Management LLC lifted its stake in CBS Corporation by 3.1% during the 1st quarter. Geode Capital Management LLC now owns 3,680,166 shares of the media conglomerate’s stock worth $254,889,000 after acquiring an additional 109,782 shares in the last quarter. Finally, FMR LLC lifted its stake in CBS Corporation by 21.2% during the 1st quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after acquiring an additional 618,593 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.
CBS Corporation Company Profile
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.