CBS Corp. (CBS) Given a $65.00 Price Target at Brean Capital
Several other brokerages also recently commented on CBS. Wells Fargo & Co. reaffirmed an outperform rating on shares of CBS Corp. in a report on Saturday, June 25th. Jefferies Group reaffirmed a buy rating on shares of CBS Corp. in a report on Monday, August 1st. Sanford C. Bernstein reaffirmed a market perform rating on shares of CBS Corp. in a report on Friday, June 17th. Zacks Investment Research downgraded shares of CBS Corp. from a buy rating to a hold rating in a report on Wednesday, August 3rd. Finally, Telsey Advisory Group cut shares of CBS Corp. from an outperform rating to a market perform rating and dropped their price objective for the stock from $67.00 to $57.00 in a research note on Thursday, September 22nd. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. CBS Corp. presently has a consensus rating of Buy and a consensus price target of $61.91.
CBS Corp. (NYSE:CBS) remained flat at $54.57 during mid-day trading on Thursday. 1,708,670 shares of the company traded hands. The stock has a 50 day moving average price of $51.93 and a 200 day moving average price of $53.73. CBS Corp. has a 52 week low of $38.76 and a 52 week high of $58.22. The company has a market capitalization of $24.26 billion, a PE ratio of 16.14 and a beta of 1.89.
CBS Corp. (NYSE:CBS) last announced its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the consensus estimate of $0.86 by $0.07. The business earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. CBS Corp.’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, equities research analysts anticipate that CBS Corp. will post $3.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.32%. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s payout ratio is 21.30%.
A number of hedge funds have recently added to or reduced their stakes in CBS. Old Mutual Global Investors UK Ltd. boosted its stake in CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares during the period. Bessemer Group Inc. boosted its stake in shares of CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock worth $89,471,000 after buying an additional 1,642,998 shares during the period. Cibc World Markets Corp acquired a new stake in shares of CBS Corp. during the second quarter worth approximately $72,230,000. Numeric Investors LLC boosted its stake in shares of CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock worth $64,442,000 after buying an additional 1,177,318 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of CBS Corp. during the first quarter worth approximately $51,458,000. Institutional investors and hedge funds own 76.78% of the company’s stock.
About CBS Corp.
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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