CBS Corp. (CBS) Receives Outperform Rating from Wedbush
CBS Corp. (NYSE:CBS)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued to clients and investors on Monday. They presently have a $65.00 price objective on the media conglomerate’s stock, down from their prior price objective of $73.00. Wedbush’s price target indicates a potential upside of 17.95% from the stock’s previous close.
A number of other analysts have also recently commented on CBS. Wells Fargo & Co. restated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Morgan Stanley restated an “overweight” rating on shares of CBS Corp. in a research note on Wednesday, June 29th. JPMorgan Chase & Co. restated a “buy” rating on shares of CBS Corp. in a research note on Thursday, June 30th. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of CBS Corp. in a research note on Saturday, July 2nd. Finally, Brean Capital initiated coverage on shares of CBS Corp. in a research note on Thursday, July 7th. They set a “buy” rating and a $65.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $62.64.
CBS Corp. (NYSE:CBS) opened at 55.11 on Monday. The company has a market capitalization of $24.50 billion, a PE ratio of 16.30 and a beta of 1.81. The company has a 50-day moving average of $52.96 and a 200-day moving average of $53.84. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22.
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CBS Corp. (NYSE:CBS) last released its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating the Zacks’ 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. On average, equities research analysts anticipate that CBS Corp. will post $3.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. CBS Corp.’s dividend payout ratio is presently 21.30%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Societe Generale bought a new position in CBS Corp. during the second quarter worth approximately $109,000. M&R Capital Management Inc. bought a new position in CBS Corp. during the second quarter worth approximately $123,000. NN Investment Partners Holdings N.V. bought a new position in CBS Corp. during the first quarter worth approximately $141,000. Trust Department MB Financial Bank N A boosted 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 worth $156,000 after buying an additional 2,305 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in CBS Corp. during the second quarter worth approximately $159,000. Hedge funds and other institutional investors own 76.80% of the company’s stock.
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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