CBS Given Average Rating of “Buy” by Brokerages (NYSE:CBS)
CBS (NYSE:CBS) has earned an average rating of “Buy” from the twenty-five ratings firms that are currently covering the stock, Stock Ratings Network.com reports. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18,486.25.
CBS (NYSE:CBS) opened at 60.33 on Tuesday. CBS has a 52 week low of $50.77 and a 52 week high of $68.10. The stock has a 50-day moving average of $59.70 and a 200-day moving average of $61.07. The company has a market cap of $31.783 billion and a price-to-earnings ratio of 19.56.
CBS (NYSE:CBS) last released its 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. Investors 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 0.99%. The ex-dividend date is Monday, September 8th. This is an increase from CBS’s previous quarterly dividend of $0.12.
In other CBS news, CEO Leslie Moonves sold 93,750 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $59.36, for a total value of $5,565,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
CBS has been the subject of a number of recent research reports. Analysts at Barclays cut their price target on shares of CBS from $68.00 to $65.00 in a research note on Thursday, August 21st. They now have an “equal weight” rating on the stock. Separately, analysts at FIG Partners raised their price target on shares of CBS to $350,000.00 in a research note on Tuesday, August 19th. Finally, analysts at Evercore Partners reiterated a “conviction-buy” rating on shares of CBS in a research note on Monday, August 18th.
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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