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.
CBS (NYSE:CBS) last posted its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. CBS had a return on equity of 58.49% and a net margin of 2.14%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. research analysts predict that CBS will post 4.4 EPS for the current year.
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.