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.

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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.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

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