CBS Co. Common Stock (CBS) Downgraded by Argus to Hold

CBS Co. Common Stock (NYSE:CBS) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Loop Capital Mk reissued a “buy” rating on shares of CBS Co. Common Stock in a report on Friday. Barrington Research reissued a “buy” rating and set a $71.00 target price on shares of CBS Co. Common Stock in a report on Monday. Royal Bank of Canada set a $63.00 target price on shares of CBS Co. Common Stock and gave the stock a “buy” rating in a report on Friday. Pivotal Research reissued a “hold” rating and set a $53.00 target price on shares of CBS Co. Common Stock in a report on Tuesday, July 31st. Finally, Cowen lowered shares of CBS Co. Common Stock from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $67.53.

CBS opened at $52.85 on Tuesday. CBS Co. Common Stock has a fifty-two week low of $47.54 and a fifty-two week high of $67.57. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.10 and a current ratio of 1.60. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.39.

CBS Co. Common Stock (NYSE:CBS) last posted its earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. CBS Co. Common Stock had a net margin of 10.21% and a return on equity of 81.10%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm posted $1.04 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. equities research analysts forecast that CBS Co. Common Stock will post 5.26 EPS for the current fiscal year.

In related news, EVP Anthony G. Ambrosio sold 15,679 shares of the business’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $57.07, for a total transaction of $894,800.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gil D. Schwartz sold 160,709 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $55.08, for a total transaction of $8,851,851.72. Following the transaction, the executive vice president now owns 110,252 shares in the company, valued at approximately $6,072,680.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,067 shares of company stock worth $17,823,897. Insiders own 1.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CBS. Natixis raised its holdings in CBS Co. Common Stock by 4,631.2% during the first quarter. Natixis now owns 165,543 shares of the media conglomerate’s stock worth $8,507,000 after buying an additional 162,044 shares during the last quarter. Klingenstein Fields & Co. LLC raised its holdings in CBS Co. Common Stock by 6.1% during the second quarter. Klingenstein Fields & Co. LLC now owns 445,675 shares of the media conglomerate’s stock worth $25,056,000 after buying an additional 25,649 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in CBS Co. Common Stock by 12.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 674,087 shares of the media conglomerate’s stock worth $34,641,000 after buying an additional 71,959 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in CBS Co. Common Stock by 1.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,426,041 shares of the media conglomerate’s stock worth $73,285,000 after buying an additional 14,353 shares during the last quarter. Finally, FIL Ltd raised its holdings in CBS Co. Common Stock by 1.7% during the first quarter. FIL Ltd now owns 452,435 shares of the media conglomerate’s stock worth $23,251,000 after buying an additional 7,427 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

About CBS Co. Common Stock

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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Analyst Recommendations for CBS Co. Common Stock (NYSE:CBS)

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