CBS Corp. (NYSE:CBS) Given Consensus Rating of “Buy” by Analysts
CBS Corp. (NYSE:CBS) has received an average recommendation of “Buy” from the thirty-three ratings firms that are covering the company. Four investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $63.21.
CBS has been the topic of a number of research analyst reports. Wells Fargo & Co. reiterated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Brean Capital restated a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a research report on Sunday, July 17th. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research report on Monday, August 1st. Sanford C. Bernstein restated a “market perform” rating on shares of CBS Corp. in a research report on Friday, June 17th. Finally, Zacks Investment Research downgraded shares of CBS Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.
CBS Corp. (NYSE:CBS) traded down 2.21% during mid-day trading on Tuesday, reaching $49.95. 5,531,499 shares of the company were exchanged. CBS Corp. has a 12 month low of $38.51 and a 12 month high of $58.22. The company’s 50 day moving average price is $52.02 and its 200-day moving average price is $53.77. The stock has a market capitalization of $22.21 billion, a P/E ratio of 14.78 and a beta of 1.89.
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CBS Corp. (NYSE:CBS) last posted its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date is Wednesday, September 7th. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
A number of institutional investors have recently modified their holdings of CBS. Nomura Asset Management Co. Ltd. raised its position in shares of CBS Corp. by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 51,843 shares of the media conglomerate’s stock valued at $2,443,000 after buying an additional 180 shares during the last quarter. DnB Asset Management AS raised its position in shares of CBS Corp. by 20.4% in the first quarter. DnB Asset Management AS now owns 34,162 shares of the media conglomerate’s stock valued at $1,882,000 after buying an additional 5,800 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of CBS Corp. by 1.2% in the first quarter. Capstone Asset Management Co. now owns 31,107 shares of the media conglomerate’s stock valued at $1,714,000 after buying an additional 380 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of CBS Corp. by 40.6% in the first quarter. Independent Portfolio Consultants Inc. now owns 5,490 shares of the media conglomerate’s stock valued at $302,000 after buying an additional 1,585 shares during the last quarter. Finally, CrestPoint Capital Management LLC raised its position in shares of CBS Corp. by 39.1% in the first quarter. CrestPoint Capital Management LLC now owns 8,900 shares of the media conglomerate’s stock valued at $490,000 after buying an additional 2,500 shares during the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
About CBS Corp.
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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