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.

COPYRIGHT VIOLATION NOTICE: “CBS Corporation’s (CBS) Outperform Rating Reaffirmed at Royal Bank Of Canada” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/08/08/cbs-corporations-cbs-outperform-rating-reaffirmed-at-royal-bank-of-canada.html.

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.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

Receive News & Ratings for CBS Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corporation and related companies with MarketBeat.com's FREE daily email newsletter.