CBS Corporation (CBS) Stock Rating Reaffirmed by Jefferies Group LLC
CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a research report issued on Tuesday. They presently have a $73.00 target price on the media conglomerate’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 23.96% from the stock’s previous close.
CBS has been the topic of several other reports. ValuEngine cut CBS Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research report on Wednesday, September 20th. Citigroup Inc. restated a “buy” rating and set a $76.00 target price (up previously from $75.00) on shares of CBS Corporation in a report on Wednesday, August 23rd. Finally, Benchmark Co. boosted their target price on shares of CBS Corporation from $76.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. CBS Corporation presently has an average rating of “Buy” and a consensus target price of $74.98.
CBS Corporation (NYSE:CBS) traded up 0.58% on Tuesday, reaching $58.89. The company had a trading volume of 3,558,283 shares. The firm has a market capitalization of $23.65 billion, a price-to-earnings ratio of 149.85 and a beta of 1.69. CBS Corporation has a one year low of $54.37 and a one year high of $70.10. The company’s 50 day moving average is $61.60 and its 200-day moving average is $63.85. CBS Corporation also was the recipient of unusually large options trading on Monday. Traders acquired 7,736 call options on the company. This represents an increase of approximately 179% compared to the average volume of 2,770 call options.
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 consensus estimate of $0.97 by $0.07. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates 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 was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 EPS. On average, equities research analysts expect that CBS Corporation will post $4.47 earnings per share for the current fiscal year.
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In other CBS Corporation news, 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 owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leslie Moonves sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total value 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 581,005 shares of company stock valued at $36,219,197 over the last 90 days. 2.03% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in shares of CBS Corporation by 42.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after acquiring an additional 532 shares during the period. Regent Investment Management LLC raised its stake in CBS Corporation by 5.0% during the 2nd quarter. Regent Investment Management LLC now owns 6,352 shares of the media conglomerate’s stock worth $405,000 after acquiring an additional 300 shares during the period. Israel Discount Bank of New York bought a new stake in CBS Corporation during the 1st quarter worth approximately $114,000. Sit Investment Associates Inc. raised its stake in CBS Corporation by 15.2% during the 2nd quarter. Sit Investment Associates Inc. now owns 369,485 shares of the media conglomerate’s stock worth $23,566,000 after acquiring an additional 48,800 shares during the period. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO raised its stake in CBS Corporation by 38.5% during the 2nd quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 26,039 shares of the media conglomerate’s stock worth $1,661,000 after acquiring an additional 7,239 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
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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