Shares of CBS Corporation (NYSE:CBS) have been assigned an average rating of “Buy” from the thirty-one research firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $74.82.

Several equities analysts recently weighed in on the company. Benchmark Co. reiterated a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a research report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $77.00 target price (up from $75.00) on shares of CBS Corporation in a research report on Tuesday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a research report on Tuesday, August 8th. Argus reiterated a “buy” rating and set a $79.00 target price (up from $71.00) on shares of CBS Corporation in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $73.00 target price (up from $71.00) on shares of CBS Corporation in a research report on Wednesday, August 9th.

In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $65.40, for a total transaction of $344,658.00. Following the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total value of $9,702,000.00. Following the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at $76,493,931.36. The disclosure for this sale can be found here. Insiders have sold 517,568 shares of company stock worth $31,245,604 over the last three months. 2.03% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Glenview Capital Management LLC increased its stake in CBS Corporation by 6.7% during the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock worth $379,535,000 after acquiring an additional 343,424 shares during the last quarter. Fred Alger Management Inc. increased its stake in CBS Corporation by 0.6% during the second quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock worth $311,252,000 after acquiring an additional 29,986 shares during the last quarter. Focused Investors LLC increased its stake in CBS Corporation by 43.0% during the third quarter. Focused Investors LLC now owns 1,624,900 shares of the media conglomerate’s stock worth $94,244,000 after acquiring an additional 488,700 shares during the last quarter. Teachers Advisors LLC increased its stake in CBS Corporation by 9.8% during the first quarter. Teachers Advisors LLC now owns 1,588,835 shares of the media conglomerate’s stock worth $110,202,000 after acquiring an additional 142,137 shares during the last quarter. Finally, Scopus Asset Management L.P. increased its stake in CBS Corporation by 166.7% during the first quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock worth $93,636,000 after acquiring an additional 843,900 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

CBS Corporation (CBS) opened at 56.94 on Wednesday. The stock has a market cap of $22.87 billion, a PE ratio of 144.89 and a beta of 1.68. The stock’s 50 day moving average price is $58.52 and its 200-day moving average price is $62.67. CBS Corporation has a 12 month low of $55.03 and a 12 month high of $70.10.

CBS Corporation (NYSE:CBS) last released its quarterly 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. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. Analysts anticipate that CBS Corporation will post $4.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.26%. CBS Corporation’s payout ratio is currently 211.76%.

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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.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

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