CBS Co. (CBS) Given Consensus Recommendation of “Buy” by Brokerages
Shares of CBS Co. (NYSE:CBS) have been assigned an average recommendation of “Buy” from the twenty-nine ratings firms that are currently covering the company. Seven research analysts have rated the stock with a hold recommendation and twenty-two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $71.85.
CBS has been the topic of several analyst reports. Guggenheim raised their price target on shares of CBS from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, February 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $73.00 price objective on shares of CBS in a report on Thursday, February 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price objective on shares of CBS in a report on Friday, April 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $71.00 price objective (up from $65.00) on shares of CBS in a report on Friday, February 3rd. Finally, Instinet increased their price objective on shares of CBS from $72.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, March 30th.
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CBS (NYSE:CBS) opened at 61.60 on Friday. CBS has a 1-year low of $48.88 and a 1-year high of $70.10. The company’s 50 day moving average is $64.88 and its 200-day moving average is $64.40. The stock has a market cap of $25.01 billion, a PE ratio of 50.24 and a beta of 1.66.
CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, May 4th. The media conglomerate reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.29 billion. CBS had a net margin of 11.32% and a return on equity of 33.06%. The firm’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.02 earnings per share. Equities research analysts forecast that CBS will post $4.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, June 7th. CBS’s payout ratio is currently 20.17%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Israel Discount Bank of New York purchased a new position in CBS during the first quarter worth about $114,000. Ruggie Capital Group purchased a new position in CBS during the first quarter worth about $120,000. Sowell Financial Services LLC purchased a new position in CBS during the fourth quarter worth about $116,000. State of Alaska Department of Revenue purchased a new position in CBS during the first quarter worth about $157,000. Finally, Holderness Investments Co. purchased a new position in CBS during the first quarter worth about $203,000. 78.18% of the stock is currently owned by hedge funds and other 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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