CBS Corp.’s (CBS) “Outperform” Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG reaffirmed their outperform rating on shares of CBS Corp. (NYSE:CBS) in a research note published on Wednesday. Credit Suisse Group AG currently has a $75.00 price objective on the media conglomerate’s stock.
A number of other research firms have also recently commented on CBS. Telsey Advisory Group cut shares of CBS Corp. from an outperform rating to a market perform rating and cut their target price for the stock from $67.00 to $57.00 in a research note on Thursday, September 22nd. Needham & Company LLC reissued 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 reissued a buy rating on shares of CBS Corp. in a research note on Monday, September 12th. Wells Fargo & Co. reissued an outperform rating on shares of CBS Corp. in a research note on Saturday, June 25th. Finally, Argus reissued a buy rating and set a $71.00 target price on shares of CBS Corp. in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. CBS Corp. has a consensus rating of Buy and an average price target of $62.64.
Shares of CBS Corp. (NYSE:CBS) traded down 0.310% during mid-day trading on Wednesday, reaching $56.235. 701,883 shares of the company’s stock traded hands. The company’s 50-day moving average price is $52.29 and its 200-day moving average price is $53.77. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $58.22. The stock has a market capitalization of $25.00 billion, a PE ratio of 16.638 and a beta of 1.81.
CBS Corp. (NYSE:CBS) last released its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company earned $3.29 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that CBS Corp. will post $3.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were given a dividend of $0.18 per share. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Wednesday, September 7th. CBS Corp.’s payout ratio is presently 21.30%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virginia Retirement System bought a new stake in shares of CBS Corp. during the first quarter worth about $387,000. IFP Advisors Inc raised its stake in shares of CBS Corp. by 104.3% in the first quarter. IFP Advisors Inc now owns 5,933 shares of the media conglomerate’s stock worth $327,000 after buying an additional 3,029 shares during the period. Teachers Advisors Inc. raised its stake in shares of CBS Corp. by 21.0% in the first quarter. Teachers Advisors Inc. now owns 980,546 shares of the media conglomerate’s stock worth $54,018,000 after buying an additional 170,093 shares during the period. Columbia Partners L L C Investment Management bought a new stake in shares of CBS Corp. during the first quarter worth about $1,071,000. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of CBS Corp. during the first quarter worth about $141,000. 76.78% of the stock is currently owned by institutional investors and hedge funds.
CBS Corp. Company Profile
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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