CBS Corporation (CBS) PT Set at $75.00 by Piper Jaffray Companies
CBS Corporation (NYSE:CBS) has been assigned a $75.00 target price by Piper Jaffray Companies in a research report issued on Monday. The brokerage currently has a “buy” rating on the media conglomerate’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 31.72% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. Benchmark Co. reiterated a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Tuesday. Zacks Investment Research upgraded CBS Corporation from a “sell” rating to a “hold” rating in a research report on Monday. BMO Capital Markets reiterated a “buy” rating and issued a $75.00 price objective on shares of CBS Corporation in a research report on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of CBS Corporation in a research report on Tuesday, October 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 price objective on shares of CBS Corporation in a research report on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.63.
CBS Corporation (NYSE:CBS) traded down 1.74% during midday trading on Monday, reaching $56.94. 4,450,089 shares of the company were exchanged. CBS Corporation has a 52-week low of $55.03 and a 52-week high of $70.10. The company has a 50 day moving average of $58.57 and a 200-day moving average of $62.76. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 144.89 and a beta of 1.69.
CBS Corporation (NYSE:CBS) last released its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that CBS Corporation will post $4.44 earnings per share for the current fiscal year.
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In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.96, for a total value of $538,695.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leslie Moonves sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $57.62, for a total value of $8,643,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at $68,144,408.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 517,568 shares of company stock worth $31,245,604. 2.03% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Dupont Capital Management Corp acquired a new stake in CBS Corporation in the 2nd quarter worth about $102,000. Parallel Advisors LLC boosted its stake in CBS Corporation by 42.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after buying an additional 532 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in CBS Corporation by 31.4% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock worth $187,000 after buying an additional 701 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in CBS Corporation in the 2nd quarter worth about $205,000. Finally, Bridgewater Wealth & Financial Management LLC boosted its stake in CBS Corporation by 12.3% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock worth $218,000 after buying an additional 374 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other 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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