CBS (CBS) Downgraded to “Equal Weight” at Stephens

CBS (NYSE:CBS) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, MarketBeat.com reports. They currently have a $64.00 price objective on the media conglomerate’s stock, down from their previous price objective of $72.00. Stephens’ price target suggests a potential upside of 10.82% from the stock’s previous close.

CBS has been the subject of a number of other reports. Piper Jaffray Companies set a $70.00 target price on CBS and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research raised CBS from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. ValuEngine lowered CBS from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Credit Suisse Group decreased their target price on CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $73.00 target price on shares of CBS in a research report on Monday, October 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $71.73.

CBS (NYSE:CBS) traded down $2.25 on Monday, reaching $57.75. The company had a trading volume of 6,221,100 shares, compared to its average volume of 4,900,562. CBS has a one year low of $52.75 and a one year high of $70.10. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03. The stock has a market cap of $23,010.00, a PE ratio of 16.79, a P/E/G ratio of 0.91 and a beta of 1.62.

CBS (NYSE:CBS) last issued its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. CBS had a return on equity of 58.49% and a net margin of 2.14%. CBS’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. sell-side analysts anticipate that CBS will post 4.38 EPS for the current fiscal year.

In related news, Director Bruce S. Gordon sold 5,093 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $55.50, for a total transaction of $282,661.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joseph R. Ianniello sold 2,400 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total value of $144,312.00. Following the transaction, the chief operating officer now owns 320,723 shares in the company, valued at $19,285,073.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,679 shares of company stock valued at $10,960,240. Corporate insiders own 2.03% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Ingalls & Snyder LLC purchased a new position in CBS during the 4th quarter worth $604,000. Hollencrest Capital Management purchased a new position in CBS during the 4th quarter worth $515,000. State of Alaska Department of Revenue grew its stake in CBS by 209.9% during the 4th quarter. State of Alaska Department of Revenue now owns 43,365 shares of the media conglomerate’s stock worth $2,556,000 after buying an additional 29,371 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in CBS by 10.2% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 70,395 shares of the media conglomerate’s stock worth $4,153,000 after buying an additional 6,520 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in CBS by 2.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,411,688 shares of the media conglomerate’s stock worth $83,290,000 after buying an additional 39,897 shares during the last quarter. Hedge funds and other institutional investors own 74.89% of the company’s stock.

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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.

Analyst Recommendations for CBS (NYSE:CBS)

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