Brean Capital Analysts Give CBS Corp. (CBS) a $65.00 Price Target
A number of other analysts also recently issued reports on the company. Credit Suisse Group AG reaffirmed a buy rating and issued a $75.00 target price on shares of CBS Corp. in a research note on Friday, July 29th. Deutsche Bank AG raised their target price on CBS Corp. from $65.00 to $68.00 and gave the stock a buy rating in a research note on Friday, July 29th. Pivotal Research reaffirmed a buy rating on shares of CBS Corp. in a research note on Sunday, July 24th. Zacks Investment Research raised CBS Corp. from a hold rating to a buy rating and set a $62.00 target price for the company in a research note on Wednesday, July 20th. Finally, Wells Fargo & Co. downgraded CBS Corp. to a buy rating in a research note on Monday, July 11th. Five research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $61.67.
Shares of CBS Corp. (NYSE:CBS) opened at 50.07 on Tuesday. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 14.81 and a beta of 1.89. CBS Corp. has a 1-year low of $38.51 and a 1-year high of $58.22. The company has a 50-day moving average of $51.85 and a 200-day moving average of $53.71.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that CBS Corp. will post $3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s payout ratio is presently 21.30%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Tocqueville Asset Management L.P. raised its position in CBS Corp. by 0.3% in the second quarter. Tocqueville Asset Management L.P. now owns 7,918 shares of the media conglomerate’s stock worth $431,000 after buying an additional 21 shares during the last quarter. Advisor Partners LLC increased its stake in CBS Corp. by 0.7% in the first quarter. Advisor Partners LLC now owns 5,218 shares of the media conglomerate’s stock worth $287,000 after buying an additional 34 shares during the period. Hollencrest Securities LLC increased its stake in CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock worth $399,000 after buying an additional 34 shares during the period. Abner Herrman & Brock LLC increased its stake in CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock worth $436,000 after buying an additional 50 shares during the period. Finally, TIAA CREF Trust Co. FSB MO increased its stake in CBS Corp. by 0.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 10,184 shares of the media conglomerate’s stock worth $554,000 after buying an additional 54 shares during the period. 76.78% of the stock is currently owned by institutional investors and hedge funds.
CBS Corp. Company Profile
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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