CBS Corp.’s (CBS) Buy Rating Reiterated at Jefferies Group
Several other research analysts have also commented on the stock. Brean Capital set a $65.00 price objective on shares of CBS Corp. and gave the stock a buy rating in a report on Thursday, September 29th. Telsey Advisory Group lowered shares of CBS Corp. from an outperform rating to a market perform rating and decreased their price objective for the stock from $67.00 to $57.00 in a report on Thursday, September 22nd. Drexel Hamilton assumed coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They issued a buy rating and a $65.00 price objective for the company. Guggenheim restated a buy rating and issued a $63.00 price objective on shares of CBS Corp. in a report on Saturday, September 3rd. Finally, Zacks Investment Research upgraded shares of CBS Corp. from a hold rating to a buy rating and set a $58.00 price objective for the company in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. CBS Corp. currently has a consensus rating of Buy and a consensus price target of $62.64.
CBS Corp. (NYSE:CBS) opened at 55.55 on Friday. The stock has a market capitalization of $24.70 billion, a PE ratio of 16.43 and a beta of 1.81. The company’s 50-day moving average is $52.15 and its 200 day moving average is $53.75. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $58.22.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the business posted $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 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
Hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. boosted its position in shares of 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 valued at $431,000 after buying an additional 21 shares during the period. Advisor Partners LLC boosted its position in shares of CBS Corp. by 0.7% in the first quarter. Advisor Partners LLC now owns 5,218 shares of the media conglomerate’s stock valued at $287,000 after buying an additional 34 shares during the period. Hollencrest Securities LLC boosted its position in shares of CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock valued at $399,000 after buying an additional 34 shares during the period. Abner Herrman & Brock LLC boosted its position in shares of CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock valued at $436,000 after buying an additional 50 shares during the period. Finally, TIAA CREF Trust Co. FSB MO boosted its position in shares of 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 valued at $554,000 after buying an additional 54 shares during the period. 76.78% of the stock is currently owned by hedge funds and other institutional investors.
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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