CBS Co. (CBS) Stock Rating Reaffirmed by Loop Capital
Other analysts also recently issued reports about the company. Barclays PLC set a $56.00 price objective on CBS and gave the stock a hold rating in a research note on Saturday, February 18th. Telsey Advisory Group increased their price objective on CBS from $57.00 to $66.00 and gave the stock a market perform rating in a research note on Tuesday, December 13th. BMO Capital Markets reissued an outperform rating and issued a $70.00 price objective on shares of CBS in a research note on Friday, February 3rd. Royal Bank of Canada increased their price objective on CBS from $70.00 to $78.00 and gave the stock an outperform rating in a research note on Thursday, February 16th. Finally, Wunderlich reissued a positive rating and issued a $72.00 price objective on shares of CBS in a research note on Monday, December 19th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $69.14.
Shares of CBS (NYSE:CBS) opened at 66.91 on Wednesday. CBS has a 1-year low of $48.88 and a 1-year high of $68.59. The company has a market capitalization of $27.40 billion, a P/E ratio of 23.81 and a beta of 1.66. The company has a 50-day moving average price of $66.14 and a 200 day moving average price of $60.34.
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CBS (NYSE:CBS) last issued its quarterly earnings data on Wednesday, February 15th. The media conglomerate reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. The firm earned $3.52 billion during the quarter, compared to the consensus estimate of $4.03 billion. CBS had a return on equity of 33.06% and a net margin of 11.32%. Equities research analysts anticipate that CBS will post $4.43 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. CBS’s dividend payout ratio (DPR) is 20.17%.
In related news, EVP Lawrence Tu sold 28,641 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $67.68, for a total value of $1,938,422.88. Following the completion of the transaction, the executive vice president now owns 5,732 shares of the company’s stock, valued at approximately $387,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph R. Ianniello sold 68,869 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $67.40, for a total transaction of $4,641,770.60. Following the completion of the transaction, the chief operating officer now directly owns 305,580 shares of the company’s stock, valued at approximately $20,596,092. The disclosure for this sale can be found here. Insiders sold a total of 130,641 shares of company stock valued at $8,741,329 over the last 90 days. 1.67% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sowell Financial Services LLC purchased a new position in shares of CBS during the fourth quarter valued at $116,000. NEXT Financial Group Inc increased its position in shares of CBS by 295.0% in the third quarter. NEXT Financial Group Inc now owns 2,773 shares of the media conglomerate’s stock valued at $152,000 after buying an additional 2,071 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of CBS by 114.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,052 shares of the media conglomerate’s stock valued at $167,000 after buying an additional 1,629 shares in the last quarter. Telos Capital Management Inc. increased its position in shares of CBS by 1.0% in the third quarter. Telos Capital Management Inc. now owns 3,966 shares of the media conglomerate’s stock valued at $217,000 after buying an additional 40 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in shares of CBS during the third quarter valued at $222,000. 78.18% of the stock is owned by institutional investors.
CBS Company Profile
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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