CBS Corp. (CBS) Given Average Recommendation of “Buy” by Brokerages
CBS Corp. (NYSE:CBS) has been assigned a consensus rating of “Buy” from the thirty-two ratings firms that are currently covering the firm. Six research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $64.04.
Several research analysts have issued reports on CBS shares. Drexel Hamilton started coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target for the company. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a report on Monday, September 12th. Argus restated a “buy” rating and set a $71.00 price target on shares of CBS Corp. in a report on Tuesday, October 4th. Telsey Advisory Group lowered shares of CBS Corp. from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $67.00 to $57.00 in a report on Thursday, September 22nd. Finally, Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 4th.
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Shares of CBS Corp. (NYSE:CBS) traded up 1.07% during mid-day trading on Tuesday, hitting $61.14. 1,769,464 shares of the stock were exchanged. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $61.34. The stock’s 50 day moving average price is $57.34 and its 200-day moving average price is $54.33. The stock has a market capitalization of $26.27 billion, a P/E ratio of 17.17 and a beta of 1.64.
CBS Corp. (NYSE:CBS) last released its quarterly earnings results on Thursday, November 3rd. The media conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.07. CBS Corp. had a net margin of 11.32% and a return on equity of 33.06%. The firm earned $3.40 million during the quarter, compared to analyst estimates of $3.26 million. During the same quarter last year, the business earned $0.88 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that CBS Corp. will post $4.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Wednesday, December 7th. CBS Corp.’s payout ratio is 20.17%.
Large investors have recently added to or reduced their stakes in the company. Societe Generale acquired a new stake in CBS Corp. during the second quarter worth approximately $109,000. M&R Capital Management Inc. acquired a new stake in CBS Corp. during the second quarter worth approximately $123,000. NEXT Financial Group Inc boosted its stake in CBS Corp. by 295.0% in the third quarter. NEXT Financial Group Inc now owns 2,773 shares of the media conglomerate’s stock worth $152,000 after buying an additional 2,071 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its stake in CBS Corp. by 11.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,861 shares of the media conglomerate’s stock worth $156,000 after buying an additional 300 shares during the last quarter. Finally, Trust Department MB Financial Bank N A boosted its stake in CBS Corp. by 457.3% in the second quarter. Trust Department MB Financial Bank N A now owns 2,809 shares of the media conglomerate’s stock worth $156,000 after buying an additional 2,305 shares during the last quarter. Institutional investors own 77.91% of the company’s stock.
About CBS Corp.
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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