CBS Corporation’s (CBS) “Buy” Rating Reiterated at Loop Capital
CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reiterated by equities researchers at Loop Capital in a research note issued on Sunday. They currently have a $78.00 price objective on the media conglomerate’s stock. Loop Capital’s price target indicates a potential upside of 20.37% from the stock’s current price.
A number of other brokerages have also weighed in on CBS. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a report on Wednesday, June 28th. BidaskClub upgraded shares of CBS Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $71.00 price target on shares of CBS Corporation in a report on Wednesday, June 14th. Telsey Advisory Group lifted their price target on shares of CBS Corporation from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Friday, May 5th. Finally, Royal Bank Of Canada set a $75.00 price target on shares of CBS Corporation and gave the company a “buy” rating in a report on Tuesday, June 6th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $73.02.
CBS Corporation (NYSE CBS) traded down 1.35% on Friday, reaching $64.80. The company had a trading volume of 1,922,117 shares. The stock has a market capitalization of $26.03 billion, a PE ratio of 164.89 and a beta of 1.71. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The stock has a 50 day moving average price of $65.06 and a 200 day moving average price of $65.03.
CBS Corporation (NYSE:CBS) last announced its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the business earned $0.93 earnings per share. CBS Corporation’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that CBS Corporation will post $4.46 EPS for the current year.
In other news, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.96, for a total value of $538,695.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the completion of the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at approximately $3,865,433.76. The disclosure for this sale can be found here. Insiders sold a total of 226,874 shares of company stock valued at $14,499,946 in the last three months. Insiders own 1.67% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. DnB Asset Management AS increased 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. State of Alaska Department of Revenue bought a new stake in CBS Corporation during the first quarter valued at $157,000. Candriam Luxembourg S.C.A. increased 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. Boyd Watterson Asset Management LLC OH increased its stake in CBS Corporation by 2.8% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 15,026 shares of the media conglomerate’s stock valued at $1,042,000 after buying an additional 416 shares during the last quarter. Finally, Foster & Motley Inc. increased its stake in CBS Corporation by 33.5% in the first quarter. Foster & Motley Inc. now owns 16,905 shares of the media conglomerate’s stock valued at $1,173,000 after buying an additional 4,243 shares during the last quarter. 74.03% of the stock is owned by institutional investors.
About CBS Corporation
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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