CBS Corp. (CBS) Given a $65.00 Price Target at Brean Capital
CBS Corp. (NYSE:CBS) received a $65.00 target price from equities researchers at Brean Capital in a report issued on Tuesday. The brokerage currently has a a “buy” rating on the media conglomerate’s stock. Brean Capital’s price target suggests a potential upside of 30.08% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. restated a “buy” rating on shares of CBS Corp. in a research note on Thursday, June 30th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 4th. Guggenheim restated a “buy” rating and set a $63.00 price objective on shares of CBS Corp. in a research note on Saturday, September 3rd. Wells Fargo & Co. cut CBS Corp. to a “buy” rating in a research note on Monday, July 11th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $75.00 target price on shares of CBS Corp. in a research note on Monday, May 23rd. Four research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. CBS Corp. currently has a consensus rating of “Buy” and an average target price of $62.01.
CBS Corp. (NYSE:CBS) traded down 0.02% during trading on Tuesday, hitting $49.96. 4,794,447 shares of the stock were exchanged. CBS Corp. has a one year low of $38.51 and a one year high of $58.22. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 14.78 and a beta of 1.89. The stock’s 50 day moving average is $51.96 and its 200-day moving average is $53.76.
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CBS Corp. (NYSE:CBS) last announced its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a $0.18 dividend. This is a positive change 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 is Wednesday, September 7th. CBS Corp.’s payout ratio is 21.30%.
Large investors have recently bought and sold shares of the company. Capital World Investors raised its stake in CBS Corp. by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock valued at $1,816,267,000 after buying an additional 612,557 shares during the period. Bank of New York Mellon Corp raised its stake in CBS Corp. by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 9,700,725 shares of the media conglomerate’s stock valued at $528,106,000 after buying an additional 401,343 shares during the period. TIAA CREF Investment Management LLC raised its stake in CBS Corp. by 9.7% in the first quarter. TIAA CREF Investment Management LLC now owns 4,737,980 shares of the media conglomerate’s stock valued at $261,015,000 after buying an additional 420,237 shares during the period. Investec Asset Management LTD raised its stake in CBS Corp. by 0.7% in the first quarter. Investec Asset Management LTD now owns 3,265,437 shares of the media conglomerate’s stock valued at $179,893,000 after buying an additional 22,307 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in CBS Corp. by 0.8% in the second quarter. UBS Asset Management Americas Inc. now owns 1,995,965 shares of the media conglomerate’s stock valued at $108,660,000 after buying an additional 16,809 shares during the period. Hedge funds and other institutional investors own 76.78% of the company’s stock.
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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