Insider Selling: Anthony G. Ambrosio Unloads 14,000 Shares of CBS Stock (CBS)
CBS (NYSE:CBS) EVP Anthony G. Ambrosio sold 14,000 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $60.13, for a total transaction of $841,820.00. Following the transaction, the executive vice president now directly owns 65,081 shares in the company, valued at approximately $3,913,321. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
CBS has been the subject of a number of recent research reports. Analysts at Pivotal Research raised their price target on shares of CBS from $67.00 to $70.00 in a research note on Friday, August 8th. Separately, analysts at ISI Group cut their price target on shares of CBS from $73.00 to $65.00 in a research note on Friday, August 8th. Finally, analysts at Nomura reiterated a “buy” rating on shares of CBS in a research note on Friday, August 8th. They now have a $74.00 price target on the stock, down previously from $78.00. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. CBS currently has an average rating of “Buy” and a consensus target price of $68.44.
CBS (NYSE:CBS) traded up 0.73% during mid-day trading on Wednesday, hitting $59.34. The stock had a trading volume of 4,970,658 shares. CBS has a 52 week low of $50.51 and a 52 week high of $68.10. The stock’s 50-day moving average is $60.17 and its 200-day moving average is $60.95. The company has a market cap of $31.261 billion and a P/E ratio of 19.00. CBS also saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 21,719,474 shares, a drop of 80.4% from the July 15th total of 110,555,774 shares. Based on an average daily volume of 13,755,423 shares, the days-to-cover ratio is presently 1.6 days. Currently, 4.6% of the shares of the company are sold short.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts predict that CBS will post $3.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Monday, September 8th. This is a boost from CBS’s previous quarterly dividend of $0.12.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.