CBS Corporation (CBS) Stock Rating Reaffirmed by Benchmark Co.
CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark Co. in a research report issued to clients and investors on Friday. They presently have a $76.00 target price on the media conglomerate’s stock. Benchmark Co.’s price target would indicate a potential upside of 22.11% from the company’s previous close.
The analysts wrote, “We suspect that estimate will prove conservative given the cross-sport draw (and the unknown undercard, which could feature additional cross-sport matchups) despite what most believe will be an uncompetitive contest, while noting that the $606 million gross forecast includes an estimated $20 million more in PPV sales than Mayweather-Pacquiao. However, given the novelty of the matchup, we prefer to remain conservative at this point in time, raising our estimates by slightly less than what CBS took in for the Mayweather-Pacquiao event.””
Other analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of CBS Corporation in a research report on Thursday, February 16th. BMO Capital Markets reaffirmed a “buy” rating and issued a $73.00 price objective on shares of CBS Corporation in a research report on Thursday, February 16th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price objective on shares of CBS Corporation in a research report on Thursday, February 16th. Guggenheim reaffirmed a “buy” rating on shares of CBS Corporation in a research report on Thursday, February 16th. Finally, Rosenblatt Securities started coverage on shares of CBS Corporation in a research report on Tuesday, April 4th. They issued a “buy” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $71.17.
CBS Corporation (NYSE CBS) opened at 62.24 on Friday. The stock has a market cap of $25.27 billion, a P/E ratio of 50.77 and a beta of 1.69. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10. The company has a 50-day moving average of $62.10 and a 200-day moving average of $64.70.
CBS Corporation (NYSE:CBS) last issued its quarterly earnings data on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter last year, the company earned $1.02 earnings per share. CBS Corporation’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, analysts predict that CBS Corporation will post $4.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, June 7th. CBS Corporation’s payout ratio is 63.72%.
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A number of large investors have recently bought and sold shares of the stock. Kentucky Retirement Systems bought a new stake in CBS Corporation during the fourth quarter worth about $1,810,000. Israel Discount Bank of New York bought a new stake in CBS Corporation during the first quarter worth about $114,000. Sawtooth Solutions LLC bought a new stake in CBS Corporation during the first quarter worth about $232,000. Hennessy Advisors Inc. bought a new stake in CBS Corporation during the first quarter worth about $2,289,000. Finally, Berson & Corrado Investment Advisors LLC boosted its stake in CBS Corporation by 2.8% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 59,257 shares of the media conglomerate’s stock worth $4,110,000 after buying an additional 1,640 shares during the last quarter. Institutional investors own 76.45% of the company’s stock.
About CBS Corporation
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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