CBS (NYSE:CBS) was downgraded by equities researchers at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued on Monday, MarketBeat reports. They presently have a $63.00 price target on the media conglomerate’s stock. Wells Fargo & Co’s target price would indicate a potential upside of 7.27% from the company’s current price.
CBS has been the subject of a number of other reports. Stephens assumed coverage on CBS in a report on Thursday, December 14th. They issued an “overweight” rating and a $70.00 price target for the company. Piper Jaffray Companies set a $70.00 target price on CBS and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised CBS from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. ValuEngine downgraded CBS from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Credit Suisse Group reduced their target price on CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Nine analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.46.
Shares of CBS (NYSE CBS) traded down $1.27 during trading hours on Monday, reaching $58.73. The company’s stock had a trading volume of 4,494,374 shares, compared to its average volume of 4,793,246. CBS has a one year low of $52.75 and a one year high of $70.10. The firm has a market capitalization of $23,500.00, a P/E ratio of 17.07, a PEG ratio of 0.90 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 (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. CBS had a return on equity of 58.49% and a net margin of 2.14%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the company posted $1.05 earnings per share. CBS’s revenue for the quarter was up 2.8% on a year-over-year basis. equities research analysts anticipate that CBS will post 4.37 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 transaction of $4,917,250.00. Following the completion of the sale, the chief executive officer now directly owns 884,513 shares in the company, valued at $51,169,077.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 189,942 shares of company stock valued at $11,096,020 over the last quarter. 2.03% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of CBS. Thrivent Financial For Lutherans grew its holdings in CBS by 2.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,130 shares of the media conglomerate’s stock valued at $901,000 after buying an additional 370 shares in the last quarter. Intellectus Partners LLC grew its holdings in CBS by 8.4% in the 2nd quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock valued at $422,000 after buying an additional 509 shares in the last quarter. Osborn Williams & Donohoe LLC grew its holdings in CBS by 11.1% in the 4th quarter. Osborn Williams & Donohoe LLC now owns 10,986 shares of the media conglomerate’s stock valued at $648,000 after buying an additional 1,095 shares in the last quarter. Green Square Capital LLC grew its holdings in CBS by 18.4% in the 2nd quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock valued at $473,000 after buying an additional 1,150 shares in the last quarter. Finally, FDx Advisors Inc. grew its holdings in CBS by 3.1% in the 3rd quarter. FDx Advisors Inc. now owns 40,738 shares of the media conglomerate’s stock valued at $2,363,000 after buying an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/01/29/cbs-cbs-stock-rating-lowered-by-wells-fargo-co.html.
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.