Somewhat Favorable Press Coverage Somewhat Unlikely to Affect CBS Corporation (CBS) Share Price
News articles about CBS Corporation (NYSE:CBS) have trended somewhat positive recently, according to Accern. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. CBS Corporation earned a coverage optimism score of 0.03 on Accern’s scale. Accern also gave news articles about the media conglomerate an impact score of 43.7979845566153 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the media stories that may have effected Accern Sentiment’s analysis:
- CBS Stock Surrounded by Skepticism Despite Recent Uptrend (schaeffersresearch.com)
- LA 500: Leslie Moonves (labusinessjournal.com)
- fuboTV Just Added CBS Own Stations Including The CW, Showtime, CBS Sports, & More (cordcuttersnews.com)
- Share Performance in View for CBS Corporation (NYSE:CBS) – Jonesboro Recorder (jonesbororecorder.com)
- See what the IHS Markit Score report has to say about CBS Corp. (finance.yahoo.com)
Shares of CBS Corporation (NYSE CBS) traded up 0.63% on Tuesday, hitting $66.70. The company had a trading volume of 2,092,887 shares. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10. The company has a 50 day moving average price of $64.87 and a 200 day moving average price of $65.00. The firm has a market capitalization of $26.79 billion, a price-to-earnings ratio of 169.72 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last issued its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that CBS Corporation will post $4.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. CBS Corporation’s payout ratio is currently 211.76%.
A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a research note on Wednesday, June 28th. Royal Bank Of Canada set a $75.00 price target on shares of CBS Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 6th. BidaskClub raised shares of CBS Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Rosenblatt Securities raised their price target on shares of CBS Corporation to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of CBS Corporation in a research note on Friday, May 12th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $72.94.
In other news, EVP Gil D. Schwartz sold 5,270 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the transaction, the executive vice president now directly owns 60,322 shares in the company, valued at approximately $3,865,433.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leslie Moonves sold 200,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,232,652 shares in the company, valued at $78,630,871.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,874 shares of company stock worth $14,499,946. Insiders own 2.03% of the company’s stock.
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.
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