CBS Corp.’s (CBS) “Buy” Rating Reiterated at Argus
CBS Corp. (NYSE:CBS)‘s stock had its “buy” rating reaffirmed by analysts at Argus in a research note issued to investors on Tuesday. They presently have a $71.00 price objective on the media conglomerate’s stock. Argus’ price target suggests a potential upside of 29.26% from the company’s previous close.
CBS has been the subject of several other research reports. Telsey Advisory Group cut CBS Corp. from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $67.00 to $57.00 in a research note on Thursday, September 22nd. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of CBS Corp. in a research note on Saturday, July 2nd. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research note on Monday, September 12th. Wells Fargo & Co. restated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Finally, Pivotal Research restated a “buy” rating on shares of CBS Corp. in a research note on Sunday, July 24th. Five equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. CBS Corp. has a consensus rating of “Buy” and a consensus price target of $62.64.
Shares of CBS Corp. (NYSE:CBS) traded up 1.13% during midday trading on Tuesday, hitting $55.55. 5,695,029 shares of the stock were exchanged. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 16.43 and a beta of 1.81. CBS Corp. has a one year low of $41.29 and a one year high of $58.22. The firm has a 50 day moving average of $52.06 and a 200-day moving average of $53.74.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. The business earned $3.29 billion during the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Equities analysts expect that CBS Corp. will post $3.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.31%. CBS Corp.’s dividend payout ratio is 21.30%.
Institutional investors have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. increased its position 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. raised 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 valued at $89,471,000 after buying an additional 1,642,998 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of CBS Corp. during the second quarter valued at approximately $72,230,000. Numeric Investors LLC raised 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 valued at $64,442,000 after buying an additional 1,177,318 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of CBS Corp. during the first quarter valued at approximately $51,458,000. 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.
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