CBS Corp. (CBS) Earns “Outperform” Rating from Wedbush
CBS Corp. (NYSE:CBS)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Monday. They presently have a $65.00 target price on the media conglomerate’s stock, down from their previous target price of $73.00. Wedbush’s price target suggests a potential upside of 17.95% from the stock’s current price.
CBS has been the subject of a number of other reports. Jefferies Group reaffirmed a “buy” rating on shares of CBS Corp. in a research note on Monday, September 12th. Drexel Hamilton assumed coverage on shares of CBS Corp. in a research note on Tuesday, September 6th. They issued a “buy” rating and a $65.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of CBS Corp. in a research note on Thursday, June 30th. Brean Capital set a $65.00 price target on shares of CBS Corp. and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $63.00 price target on shares of CBS Corp. in a research report on Sunday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. CBS Corp. presently has a consensus rating of “Buy” and an average price target of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 55.11 on Monday. The stock has a 50 day moving average price of $52.96 and a 200 day moving average price of $53.84. The firm has a market capitalization of $24.50 billion, a P/E ratio of 16.30 and a beta of 1.81. CBS Corp. has a 12 month low of $41.36 and a 12 month high of $58.22.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/cbs-corp-cbs-earns-outperform-rating-from-wedbush.html
CBS Corp. (NYSE:CBS) last announced its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. The firm earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. On average, analysts expect that CBS Corp. will post $3.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
Institutional investors have recently added to or reduced their stakes in the stock. Societe Generale acquired a new position in CBS Corp. during the second quarter valued at about $109,000. M&R Capital Management Inc. acquired a new position in CBS Corp. during the second quarter valued at about $123,000. NN Investment Partners Holdings N.V. acquired a new position in CBS Corp. during the first quarter valued at about $141,000. Trust Department MB Financial Bank N A increased its position in CBS Corp. by 457.3% in the second quarter. Trust Department MB Financial Bank N A now owns 2,809 shares of the media conglomerate’s stock valued at $156,000 after buying an additional 2,305 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in CBS Corp. during the second quarter valued at about $159,000. 76.80% of the stock is 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.
Receive News & Ratings for CBS Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corp. and related companies with MarketBeat.com's FREE daily email newsletter.