CBS (CBS) Receives “Outperform” Rating from Wells Fargo & Co

CBS (NYSE:CBS)‘s stock had its “outperform” rating restated by investment analysts at Wells Fargo & Co in a report issued on Thursday, The Fly reports. They currently have a $70.00 target price on the media conglomerate’s stock, down from their prior target price of $75.00. Wells Fargo & Co’s price target points to a potential upside of 18.24% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Piper Jaffray Companies set a $70.00 price objective on CBS and gave the company a “buy” rating in a report on Wednesday. Cowen reissued a “buy” rating on shares of CBS in a report on Thursday, September 21st. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price objective on shares of CBS in a report on Wednesday, September 20th. ValuEngine cut CBS from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Macquarie cut CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. CBS presently has an average rating of “Buy” and an average price target of $72.26.

CBS (NYSE:CBS) opened at $59.20 on Thursday. The company has a market capitalization of $23,700.00, a price-to-earnings ratio of 17.21, a P/E/G ratio of 0.94 and a beta of 1.62. CBS has a 12-month low of $52.75 and a 12-month high of $70.10. 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 (NYSE:CBS) last issued its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.26 billion. CBS had a return on equity of 58.49% and a net margin of 2.14%. CBS’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.05 earnings per share. analysts predict that CBS will post 4.4 EPS for the current year.

In related news, CEO Leslie Moonves sold 85,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total value of $4,917,250.00. Following the completion of the transaction, the chief executive officer now directly owns 884,513 shares in the company, valued at approximately $51,169,077.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arnold Kopelson sold 5,093 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $59.51, for a total value of $303,084.43. The disclosure for this sale can be found here. Insiders have sold a total of 250,279 shares of company stock valued at $14,437,978 over the last 90 days. Corporate insiders own 1.67% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CBS. Dupont Capital Management Corp bought a new stake in CBS in the 2nd quarter valued at approximately $102,000. Israel Discount Bank of New York bought a new stake in shares of CBS during the 1st quarter worth approximately $114,000. Ruggie Capital Group bought a new stake in shares of CBS during the 1st quarter worth approximately $120,000. Sowell Financial Services LLC bought a new stake in shares of CBS during the 4th quarter worth approximately $116,000. Finally, Parallel Advisors LLC raised its stake in shares of CBS by 42.5% during 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 in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

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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

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