CBS Corp. (CBS) Stock Rating Reaffirmed by Jefferies Group
CBS Corp. (NYSE:CBS)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a report released on Friday.
A number of other brokerages also recently issued reports on CBS. Wells Fargo & Co. downgraded CBS Corp. to a “buy” rating in a research note on Monday, July 11th. Brean Capital reaffirmed a “buy” rating and issued a $65.00 target price on shares of CBS Corp. in a research note on Sunday, July 17th. Pivotal Research reaffirmed a “buy” rating on shares of CBS Corp. in a research note on Sunday, July 24th. Zacks Investment Research raised CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Wednesday, July 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of CBS Corp. in a research note on Saturday, July 2nd. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $61.91.
Shares of CBS Corp. (NYSE:CBS) opened at 54.93 on Friday. The company has a 50-day moving average of $52.06 and a 200-day moving average of $53.74. CBS Corp. has a 1-year low of $41.29 and a 1-year high of $58.22. The stock has a market capitalization of $24.42 billion, a price-to-earnings ratio of 16.25 and a beta of 1.81.
CBS Corp. (NYSE:CBS) last issued its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The business earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period last year, the company earned $0.74 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that CBS Corp. will post $3.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s payout ratio is presently 21.30%.
Several hedge funds have recently bought and sold shares of CBS. Societe Generale acquired a new stake in CBS Corp. during the second quarter worth $109,000. M&R Capital Management Inc. acquired a new stake in CBS Corp. during the second quarter worth $123,000. NN Investment Partners Holdings N.V. acquired a new stake in CBS Corp. during the first quarter worth $141,000. Trust Department MB Financial Bank N A increased its stake in CBS Corp. by 457.3% in the second quarter. Trust Department MB Financial Bank N A now owns 2,809 shares of the media conglomerate’s stock worth $156,000 after buying an additional 2,305 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CBS Corp. during the second quarter worth $159,000. Hedge funds and other institutional investors 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.
Receive News & Stock Ratings for CBS Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corp. and related stocks with our FREE daily email newsletter.