CBS Corp. (CBS) Stock Price Down 3%
CBS Corp. (NYSE:CBS) shares were down 3% on Friday . The stock traded as low as $51.95 and last traded at $52.56, with a volume of 5,164,333 shares. The stock had previously closed at $54.21.
Several research analysts have recently commented on CBS shares. Zacks Investment Research raised shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, July 20th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of CBS Corp. in a report on Friday, June 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a report on Saturday, July 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of CBS Corp. in a report on Friday, May 27th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of CBS Corp. in a report on Saturday, June 25th. Four analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. CBS Corp. has a consensus rating of “Buy” and a consensus price target of $62.01.
The firm has a 50 day moving average price of $54.43 and a 200 day moving average price of $52.34. The stock has a market capitalization of $23.66 billion and a price-to-earnings ratio of 16.75.
CBS Corp. (NYSE:CBS) last issued its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business earned $0.74 earnings per share. CBS Corp.’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that CBS Corp. will post $3.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, June 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.15%.
Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in CBS Corp. by 5,817.0% in the fourth quarter. Victory Capital Management Inc. now owns 938,383 shares of the media conglomerate’s stock valued at $44,226,000 after buying an additional 922,524 shares in the last quarter. Systematic Financial Management LP purchased a new position in CBS Corp. during the fourth quarter valued at $33,438,000. Nicholas Co. Inc. WI boosted its position in CBS Corp. by 123.0% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,241,685 shares of the media conglomerate’s stock valued at $58,520,000 after buying an additional 684,950 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in CBS Corp. by 137.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 828,721 shares of the media conglomerate’s stock valued at $39,058,000 after buying an additional 480,159 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in CBS Corp. by 37.2% in the fourth quarter. Marshall Wace LLP now owns 1,499,973 shares of the media conglomerate’s stock valued at $70,694,000 after buying an additional 406,863 shares in the last quarter.
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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