ValuEngine Downgrades CBS Corporation (CBS) to Hold

ValuEngine cut shares of CBS Corporation (NYSE:CBS) from a buy rating to a hold rating in a report issued on Monday morning.

CBS has been the subject of several other research reports. BMO Capital Markets restated a buy rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Tuesday, August 8th. BidaskClub upgraded shares of CBS Corporation from a buy rating to a strong-buy rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a buy rating and set a $73.00 target price (up previously from $71.00) on shares of CBS Corporation in a research report on Wednesday, August 9th. Argus reiterated a buy rating and set a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a research report on Thursday, August 10th. Finally, Citigroup Inc. reiterated a buy rating and set a $76.00 target price (up previously from $75.00) on shares of CBS Corporation in a research report on Wednesday, August 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CBS Corporation presently has an average rating of Buy and a consensus price target of $73.44.

CBS Corporation (CBS) traded up 0.043% during mid-day trading on Monday, reaching $58.175. The company had a trading volume of 1,105,189 shares. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The company’s 50 day moving average is $64.08 and its 200 day moving average is $64.68. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 148.028 and a beta of 1.70.

CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. CBS Corporation’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that CBS Corporation will post $4.46 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s dividend payout ratio is currently 211.76%.

In other CBS Corporation news, CEO Leslie Moonves sold 200,000 shares of CBS Corporation 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 sale, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at $78,630,871.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gil D. Schwartz sold 54,131 shares of CBS Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $58.40, for a total transaction of $3,161,250.40. Following the completion of the sale, the executive vice president now directly owns 102,483 shares in the company, valued at approximately $5,985,007.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 431,005 shares of company stock worth $27,363,197. 1.67% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Griffin Asset Management Inc. bought a new stake in CBS Corporation in the second quarter worth about $340,000. Sentry Investment Management LLC raised its position in CBS Corporation by 1.5% in the second quarter. Sentry Investment Management LLC now owns 88,682 shares of the media conglomerate’s stock worth $5,656,000 after acquiring an additional 1,279 shares during the period. Toronto Dominion Bank raised its position in CBS Corporation by 24.1% in the second quarter. Toronto Dominion Bank now owns 124,828 shares of the media conglomerate’s stock worth $7,959,000 after acquiring an additional 24,241 shares during the period. Colony Group LLC raised its position in CBS Corporation by 8.5% in the second quarter. Colony Group LLC now owns 132,430 shares of the media conglomerate’s stock worth $8,446,000 after acquiring an additional 10,394 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in CBS Corporation in the second quarter worth about $3,011,000. 75.09% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

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