Research analysts at Morgan Stanley began coverage on shares of CBS (NYSE:CBS) in a note issued to investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the media conglomerate’s stock.

Several other research analysts have also recently commented on CBS. Royal Bank Of Canada restated an “outperform” rating and set a $77.00 target price (up previously from $75.00) on shares of CBS in a report on Tuesday, August 8th. BMO Capital Markets restated a “buy” rating and set a $80.00 target price on shares of CBS in a report on Tuesday, August 8th. Argus restated a “buy” rating and set a $79.00 target price (up previously from $71.00) on shares of CBS in a report on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of CBS in a report on Tuesday, October 17th. Finally, Jefferies Group restated a “buy” rating and set a $73.00 target price (up previously from $71.00) on shares of CBS in a report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.33.

CBS (NYSE CBS) opened at $58.10 on Wednesday. CBS has a 1-year low of $52.75 and a 1-year high of $70.10. The company has a market cap of $24,050.70, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.08 and a beta of 1.62. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03.

CBS (NYSE:CBS) last announced its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. CBS had a net margin of 2.14% and a return on equity of 58.49%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. analysts forecast that CBS will post 4.39 EPS for the current fiscal year.

In other news, CEO Leslie Moonves sold 150,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $59.04, for a total value of $8,856,000.00. Following the transaction, the chief executive officer now directly owns 1,182,652 shares of the company’s stock, valued at $69,823,774.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce S. Gordon sold 5,093 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $55.50, for a total transaction of $282,661.50. The disclosure for this sale can be found here. Insiders sold 364,317 shares of company stock worth $21,234,894 over the last three months. Insiders own 2.03% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CBS. Capital World Investors grew its stake in shares of CBS by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock valued at $1,816,267,000 after acquiring an additional 612,557 shares in the last quarter. BlackRock Institutional Trust Company N.A. grew its stake in shares of CBS by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,500,295 shares of the media conglomerate’s stock valued at $629,526,000 after acquiring an additional 30,822 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of CBS by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 9,700,725 shares of the media conglomerate’s stock valued at $528,106,000 after acquiring an additional 401,343 shares in the last quarter. Boston Partners grew its stake in CBS by 343.1% during the fourth quarter. Boston Partners now owns 7,782,031 shares of the media conglomerate’s stock worth $366,767,000 after buying an additional 6,025,739 shares in the last quarter. Finally, Glenview Capital Management LLC grew its stake in CBS 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 buying an additional 343,424 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors.

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About CBS

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.

The Fly

Analyst Recommendations for CBS (NYSE:CBS)

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