CBS Corp. (CBS) Shares Down 3.1%
Shares of CBS Corp. (NYSE:CBS) fell 3.1% during trading on Tuesday . The stock traded as low as $49.42 and last traded at $49.48, with a volume of 4,267,614 shares traded. The stock had previously closed at $51.08.
Several brokerages have recently commented on CBS. Zacks Investment Research cut CBS Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $75.00 target price on shares of CBS Corp. in a research report on Monday, May 23rd. Wells Fargo & Co. cut CBS Corp. to a “buy” rating in a research report on Monday, July 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of CBS Corp. in a research report on Wednesday, June 29th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of CBS Corp. in a research report on Monday, August 1st. Four analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $62.01.
The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 14.78 and a beta of 1.89. The company has a 50-day moving average of $52.02 and a 200 day moving average of $53.77.
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CBS Corp. (NYSE:CBS) last released its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. On average, analysts anticipate that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a $0.18 dividend. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, September 7th. CBS Corp.’s dividend payout ratio is currently 21.30%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virginia Retirement System bought a new position in CBS Corp. during the first quarter valued at $387,000. Nisa Investment Advisors L.L.C. boosted its position in CBS Corp. by 3.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 115,407 shares of the media conglomerate’s stock valued at $6,358,000 after buying an additional 3,900 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in CBS Corp. during the first quarter valued at $524,000. Aperio Group LLC boosted its position in CBS Corp. by 22.7% in the first quarter. Aperio Group LLC now owns 213,826 shares of the media conglomerate’s stock valued at $11,780,000 after buying an additional 39,523 shares in the last quarter. Finally, Sii Investments Inc. WI bought a new position in CBS Corp. during the first quarter valued at $266,000. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
CBS Corp. Company Profile
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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