CBS Stock Rating Reaffirmed by Evercore Partners (CBS)
CBS has been the subject of a number of other 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.41.
In other CBS news, CEO Leslie Moonves sold 93,750 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $59.36, for a total value of $5,565,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
CBS (NYSE:CBS) opened at 59.99 on Monday. CBS has a 52 week low of $50.51 and a 52 week high of $68.10. The stock has a 50-day moving average of $60.0 and a 200-day moving average of $60.95. The company has a market cap of $31.604 billion and a price-to-earnings ratio of 19.18. CBS also was the target of a significant 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 short-interest ratio is currently 1.6 days. Currently, 4.6% of the shares of the company are sold short.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.76 earnings per share. CBS’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that CBS will post $3.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date 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.