CBS Corp. (CBS) Given a $65.00 Price Target at Brean Capital
CBS Corp. (NYSE:CBS) has been given a $65.00 target price by analysts at Brean Capital in a note issued to investors on Tuesday. The firm currently has a a “buy” rating on the media conglomerate’s stock. Brean Capital’s price objective would indicate a potential upside of 30.08% from the company’s current price.
Several other research analysts also recently issued reports on the company. Jefferies Group reaffirmed a “buy” rating on shares of CBS Corp. in a research note on Monday, September 12th. Drexel Hamilton assumed coverage on CBS Corp. in a research note on Tuesday, September 6th. They issued a “buy” rating and a $65.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and issued a $63.00 price objective on shares of CBS Corp. in a research note on Saturday, September 3rd. Zacks Investment Research raised CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $63.00 price objective on shares of CBS Corp. in a research note on Sunday, July 31st. Four research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $62.01.
Shares of CBS Corp. (NYSE:CBS) traded down 0.390% on Tuesday, reaching $49.775. 4,532,715 shares of the company’s stock were exchanged. The stock has a market cap of $22.13 billion, a P/E ratio of 14.726 and a beta of 1.89. The company’s 50 day moving average price is $51.96 and its 200-day moving average price is $53.76. CBS Corp. has a 52-week low of $38.51 and a 52-week high of $58.22.
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CBS Corp. (NYSE:CBS) last released its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, beating 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 company earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that CBS Corp. will post $3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.44%. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is currently 21.30%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. increased its position in shares of CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares in the last quarter. Bessemer Group Inc. increased its position in shares of CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock valued at $89,471,000 after buying an additional 1,642,998 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of CBS Corp. during the second quarter valued at approximately $72,230,000. Numeric Investors LLC increased its position in shares of CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock valued at $64,442,000 after buying an additional 1,177,318 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of CBS Corp. during the first quarter valued at approximately $51,458,000. Institutional investors and hedge funds 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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