CBS Corp. (CBS) Stock Rating Reaffirmed by Wedbush
CBS Corp. (NYSE:CBS)‘s stock had its “outperform” rating reissued by Wedbush in a report issued on Monday. They presently have a $65.00 target price on the media conglomerate’s stock, down from their prior target price of $73.00. Wedbush’s price target indicates a potential upside of 17.97% from the company’s previous close.
A number of other equities analysts also recently issued reports on the stock. Drexel Hamilton initiated coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They issued a “buy” rating and a $65.00 price target for the company. Jefferies Group reiterated a “buy” rating on shares of CBS Corp. in a report on Monday, September 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $63.00 price target on shares of CBS Corp. in a report on Sunday, July 31st. Zacks Investment Research upgraded 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. Finally, Telsey Advisory Group downgraded shares of CBS Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the company from $67.00 to $57.00 in a report on Thursday, September 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $62.64.
CBS Corp. (NYSE:CBS) opened at 55.10 on Monday. The firm’s 50-day moving average is $53.18 and its 200-day moving average is $53.83. The stock has a market capitalization of $24.50 billion, a P/E ratio of 16.30 and a beta of 1.81. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The business earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. On average, equities research analysts predict that CBS Corp. will post $3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were paid a $0.18 dividend. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.31%. CBS Corp.’s dividend payout ratio is presently 21.30%.
A number of institutional investors have recently added to or reduced their stakes in CBS. Virginia Retirement System bought a new position in CBS Corp. during the first quarter valued at $387,000. NN Investment Partners Holdings N.V. bought a new position in CBS Corp. during the first quarter valued at $141,000. M&T Bank Corp raised its position in CBS Corp. by 3.2% in the first quarter. M&T Bank Corp now owns 77,649 shares of the media conglomerate’s stock valued at $4,278,000 after buying an additional 2,404 shares during the last quarter. Aviva PLC raised its position in CBS Corp. by 0.7% in the first quarter. Aviva PLC now owns 260,034 shares of the media conglomerate’s stock valued at $14,325,000 after buying an additional 1,839 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its position in CBS Corp. by 2.8% in the first quarter. AMF Pensionsforsakring AB now owns 43,890 shares of the media conglomerate’s stock valued at $2,418,000 after buying an additional 1,200 shares during the last quarter. 76.80% of the stock is currently owned by hedge funds and other institutional investors.
About CBS Corp.
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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