CBS Corporation Sees Unusually High Options Volume (NYSE:CBS)
CBS Corporation (NYSE:CBS) saw some unusual options trading on Friday. Investors acquired 16,257 call options on the company. This is an increase of 533% compared to the typical daily volume of 2,569 call options.
In related news, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the transaction, the chief executive officer now directly owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,874 shares of company stock worth $14,499,946. 2.03% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. raised its stake in CBS Corporation by 21.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 26,840 shares of the media conglomerate’s stock valued at $1,862,000 after buying an additional 4,824 shares during the last quarter. V Wealth Management LLC raised its stake in CBS Corporation by 14.0% in the first quarter. V Wealth Management LLC now owns 22,132 shares of the media conglomerate’s stock valued at $1,529,000 after buying an additional 2,718 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in CBS Corporation during the first quarter valued at approximately $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 during the last quarter. Finally, 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 during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
CBS Corporation (NYSE CBS) opened at 66.71 on Monday. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10. The stock has a market cap of $26.79 billion, a PE ratio of 169.75 and a beta of 1.71. The stock has a 50 day moving average price of $64.79 and a 200-day moving average price of $64.96.
CBS Corporation (NYSE:CBS) last issued its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. On average, equities analysts expect that CBS Corporation will post $4.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s dividend payout ratio is currently 211.76%.
CBS has been the topic of a number of research reports. Rosenblatt Securities raised their price objective on CBS Corporation to $40.00 and gave the company a “neutral” rating in a report on Monday, April 17th. Pivotal Research reissued a “hold” rating and set a $67.00 price objective on shares of CBS Corporation in a report on Sunday, April 23rd. Needham & Company LLC raised their price objective on CBS Corporation from $72.00 to $80.00 and gave the company a “buy” rating in a report on Friday, April 28th. Telsey Advisory Group raised their price objective on CBS Corporation from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Friday, May 5th. Finally, Benchmark Co. raised their price objective on CBS Corporation from $74.00 to $76.00 and gave the company a “buy” rating in a report on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. CBS Corporation has an average rating of “Buy” and a consensus price target of $72.94.
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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