Other research analysts have also recently issued reports about the stock. BidaskClub raised shares of CBS Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Jefferies Group LLC reaffirmed a buy rating and issued a $71.00 price target on shares of CBS Corporation in a report on Wednesday, June 14th. Royal Bank Of Canada set a $75.00 price target on shares of CBS Corporation and gave the company a buy rating in a report on Tuesday, June 6th. Needham & Company LLC reaffirmed a buy rating and issued a $80.00 price target on shares of CBS Corporation in a report on Wednesday, June 28th. Finally, Argus reaffirmed a buy rating and issued a $79.00 price target (up from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $74.98.
CBS Corporation (NYSE:CBS) opened at 59.23 on Thursday. The company has a 50 day moving average of $63.34 and a 200-day moving average of $64.46. The stock has a market capitalization of $23.79 billion, a P/E ratio of 150.71 and a beta of 1.70. CBS Corporation has a 52-week low of $49.73 and a 52-week high of $70.10.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that CBS Corporation will post $4.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. CBS Corporation’s dividend payout ratio is currently 211.76%.
In related news, EVP Gil D. Schwartz sold 54,131 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $58.40, for a total value of $3,161,250.40. Following the completion of the transaction, the executive vice president now owns 102,483 shares in the company, valued at approximately $5,985,007.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leslie Moonves sold 150,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $59.04, for a total transaction of $8,856,000.00. Following the completion of the transaction, the chief executive officer now owns 1,182,652 shares of the company’s stock, valued at approximately $69,823,774.08. The disclosure for this sale can be found here. Insiders sold a total of 581,005 shares of company stock valued at $36,219,197 in the last quarter. 2.03% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its position in CBS Corporation by 42.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after buying an additional 532 shares in the last quarter. Regent Investment Management LLC grew its position in CBS Corporation by 5.0% in the 2nd quarter. Regent Investment Management LLC now owns 6,352 shares of the media conglomerate’s stock valued at $405,000 after buying an additional 300 shares in the last quarter. Israel Discount Bank of New York bought a new position in CBS Corporation in the 1st quarter valued at about $114,000. Sit Investment Associates Inc. grew its position in CBS Corporation by 15.2% in the 2nd quarter. Sit Investment Associates Inc. now owns 369,485 shares of the media conglomerate’s stock valued at $23,566,000 after buying an additional 48,800 shares in the last quarter. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO grew its position in CBS Corporation by 38.5% in the 2nd quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 26,039 shares of the media conglomerate’s stock valued at $1,661,000 after buying an additional 7,239 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.
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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