CBS Corporation’s (CBS) Outperform Rating Reaffirmed at Royal Bank Of Canada
CBS Corporation (NYSE:CBS)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada in a note issued to investors on Tuesday. They presently have a $77.00 price target on the media conglomerate’s stock, up from their previous price target of $75.00. Royal Bank Of Canada’s target price indicates a potential upside of 17.20% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. BidaskClub upgraded shares of CBS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. Cowen and Company restated an “outperform” rating and issued a $70.00 price target on shares of CBS Corporation in a research note on Friday, May 5th. Telsey Advisory Group raised their price target on shares of CBS Corporation from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Friday, May 5th. Pivotal Research restated a “hold” rating and issued a $67.00 price target on shares of CBS Corporation in a research note on Sunday, April 23rd. Finally, Benchmark Co. restated a “buy” rating and issued a $76.00 price target on shares of CBS Corporation in a research note on Friday, June 16th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. CBS Corporation presently has a consensus rating of “Buy” and a consensus price target of $72.25.
Shares of CBS Corporation (CBS) traded up 1.83% during trading on Tuesday, hitting $65.70. 4,540,681 shares of the company’s stock were exchanged. The stock has a market cap of $26.67 billion, a PE ratio of 53.59 and a beta of 1.71. The stock’s 50-day moving average price is $64.27 and its 200-day moving average price is $64.86. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.09 billion. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. On average, equities analysts expect that CBS Corporation will post $4.44 earnings per share for the current fiscal year.
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In other news, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total value of $337,701.60. Following the completion of the sale, the executive vice president now owns 60,322 shares in the company, valued at approximately $3,865,433.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leslie Moonves sold 200,000 shares of CBS Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the completion of the sale, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. Insiders sold a total of 218,707 shares of company stock valued at $13,961,251 in the last quarter. 2.03% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in CBS Corporation during the first quarter valued at $157,000. Columbus Circle Investors raised its stake in CBS Corporation by 89.8% in the first quarter. Columbus Circle Investors now owns 730,636 shares of the media conglomerate’s stock valued at $50,677,000 after buying an additional 345,676 shares in the last quarter. DnB Asset Management AS raised its stake in CBS Corporation by 17.1% in the first quarter. DnB Asset Management AS now owns 45,862 shares of the media conglomerate’s stock valued at $3,181,000 after buying an additional 6,700 shares in the last quarter. Reliance Trust Co. of Delaware raised its stake in CBS Corporation by 20.3% in the first quarter. Reliance Trust Co. of Delaware now owns 10,535 shares of the media conglomerate’s stock valued at $731,000 after buying an additional 1,775 shares in the last quarter. Finally, Regent Investment Management LLC raised its stake in CBS Corporation by 43.2% in the first quarter. Regent Investment Management LLC now owns 6,052 shares of the media conglomerate’s stock valued at $420,000 after buying an additional 1,825 shares in the last quarter. Institutional investors own 75.42% of the company’s stock.
CBS Corporation 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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