CBS Corp. (CBS) Shares Down 3%
Shares of CBS Corp. (NYSE:CBS) were down 3% during trading on Friday . The company 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.
A number of analysts have recently commented on CBS shares. 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 research note on Wednesday, July 20th. Sanford C. Bernstein reiterated a “market perform” rating on shares of CBS Corp. in a research note on Friday, June 17th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a research note on Saturday, July 2nd. Morgan Stanley reiterated an “overweight” rating on shares of CBS Corp. in a research note on Friday, May 27th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Four investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. CBS Corp. currently has a consensus rating of “Buy” and an average price target of $62.01.
The stock has a 50-day moving average of $54.37 and a 200 day moving average of $52.34. The firm has a market cap of $23.55 billion and a P/E ratio of 15.45.
CBS Corp. (NYSE:CBS) last announced its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. During the same period last year, the firm earned $0.74 EPS. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that CBS Corp. will post $3.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were issued 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 hedge funds and institutional investors recently bought and sold shares of the company. KBC Group NV raised its position in CBS Corp. by 11.7% in the fourth quarter. KBC Group NV now owns 351,431 shares of the media conglomerate’s stock valued at $16,563,000 after buying an additional 36,896 shares in the last quarter. Nicholas Co. Inc. WI raised 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. Suntrust Banks Inc. raised its position in CBS Corp. by 12.7% in the fourth quarter. Suntrust Banks Inc. now owns 43,260 shares of the media conglomerate’s stock valued at $2,036,000 after buying an additional 4,877 shares in the last quarter. Andra AP fonden raised its position in CBS Corp. by 8.6% in the fourth quarter. Andra AP fonden now owns 60,600 shares of the media conglomerate’s stock valued at $2,856,000 after buying an additional 4,800 shares in the last quarter. Finally, UBS Oconnor LLC bought a new position in CBS Corp. during the fourth quarter valued at approximately $6,127,000.
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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