CBS (NYSE:CBS) has been given a $70.00 target price by equities researchers at Piper Jaffray Companies in a research note issued on Wednesday. The firm presently has a “buy” rating on the media conglomerate’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 18.24% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Guggenheim reiterated a “buy” rating and issued a $78.00 target price on shares of CBS in a research note on Friday, October 6th. Citigroup reiterated a “buy” rating and issued a $75.00 target price (down previously from $76.00) on shares of CBS in a research note on Wednesday, October 4th. Jefferies Group reiterated a “buy” rating and issued a $73.00 target price on shares of CBS in a research note on Tuesday, October 3rd. Benchmark reiterated a “buy” rating and issued a $81.00 target price on shares of CBS in a research note on Wednesday, September 27th. Finally, Cowen reiterated a “buy” rating on shares of CBS in a research note on Thursday, September 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.54.
Shares of CBS (CBS) traded up $0.03 during trading hours on Wednesday, reaching $59.20. The company’s stock had a trading volume of 2,966,279 shares, compared to its average volume of 3,071,900. The firm has a market capitalization of $23,700.00, a price-to-earnings ratio of 17.21, a PEG ratio of 0.94 and a beta of 1.62. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10. CBS has a 12 month low of $52.75 and a 12 month high of $70.10.
In other CBS news, CEO Leslie Moonves sold 85,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total transaction of $4,917,250.00. Following the transaction, the chief executive officer now owns 884,513 shares of the company’s stock, valued at approximately $51,169,077.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce S. Gordon sold 5,093 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.50, for a total value of $282,661.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,279 shares of company stock valued at $14,437,978. 2.03% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Clark Estates Inc. NY bought a new position in CBS during the 3rd quarter worth approximately $2,956,000. Parallel Advisors LLC lifted its holdings in shares of CBS 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 purchasing an additional 532 shares during the last quarter. Klingenstein Fields & Co. LLC bought a new stake in shares of CBS in the 2nd quarter worth approximately $284,000. Gluskin Sheff & Assoc Inc. bought a new stake in shares of CBS in the 2nd quarter worth approximately $24,255,000. Finally, Regent Investment Management LLC lifted its holdings in shares of CBS by 5.0% in the 2nd quarter. Regent Investment Management LLC now owns 6,352 shares of the media conglomerate’s stock worth $405,000 after purchasing an additional 300 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.
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CBS 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.
