CBS Corp Stock Rating Reaffirmed by Morgan Stanley (CBS)
CBS Corp (NYSE:CBS)‘s stock had its “overweight” rating restated by Morgan Stanley in a research note issued on Thursday, AnalystRatings.NET reports. They currently have a $73.00 target price on the stock, up from their previous target price of $70.00. Morgan Stanley’s target price suggests a potential upside of 19.10% from the company’s current price.
The analysts wrote, “The CBS Network remains under-monetized relative to its ratings. Its new $2bn target for total network subscription revenues in 2020, along with the increased leverage potential that comes as a result, should allow CBS to conservatively deliver mid to high teens EPS growth for years. We reiterate our OW and raise our PT to $73.”
A number of other analysts have also recently weighed in on CBS. Analysts at Guggenheim raised their price target on shares of CBS Corp to $70.00 in a research note on Thursday. Separately, analysts at FBR Capital Markets raised their price target on shares of CBS Corp from $67.00 to $74.00 in a research note on Thursday. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CBS Corp currently has an average rating of “Buy” and a consensus target price of $63.18.
CBS Corp (NYSE:CBS) opened at 61.85 on Thursday. CBS Corp has a one year low of $42.05 and a one year high of $64.06. The stock has a 50-day moving average of $60.80 and a 200-day moving average of $57.52. The company has a market cap of $37.115 billion and a price-to-earnings ratio of 21.69.
CBS Corp (NYSE:CBS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.02. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $0.64 earnings per share. CBS Corp’s revenue was up 5.8% compared to the same quarter last year. Analysts expect that CBS Corp will post $3.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, March 7th.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
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