CBS Corp. (CBS) Earns “Outperform” Rating from Wedbush
CBS Corp. (NYSE:CBS)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Monday. They presently have a $65.00 price target on the media conglomerate’s stock, down from their previous price target of $73.00. Wedbush’s price target indicates a potential upside of 17.95% from the stock’s previous close.
CBS has been the topic of a number of other reports. Jefferies Group reiterated a “buy” rating on shares of CBS Corp. in a research report on Monday, September 12th. Drexel Hamilton began coverage on CBS Corp. in a research report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CBS Corp. in a research report on Thursday, June 30th. Brean Capital set a $65.00 price target on CBS Corp. and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $63.00 price target on shares of CBS Corp. in a research report on Sunday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. CBS Corp. presently has an average rating of “Buy” and an average target price of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 55.11 on Monday. The firm has a market capitalization of $24.50 billion, a P/E ratio of 16.30 and a beta of 1.81. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22. The firm has a 50 day moving average price of $52.96 and a 200-day moving average price of $53.84.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The business had revenue of $3.29 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. Equities research analysts predict 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. Shareholders of record on Friday, September 9th were issued a dividend of $0.18 per share. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date was Wednesday, September 7th. CBS Corp.’s dividend payout ratio (DPR) is 21.30%.
Large investors have recently modified their holdings of the stock. National Pension Service increased its stake in shares of CBS Corp. by 8.0% in the third quarter. National Pension Service now owns 349,482 shares of the media conglomerate’s stock valued at $19,131,000 after buying an additional 25,838 shares in the last quarter. Private Trust Co. NA increased its stake in shares of CBS Corp. by 1.1% in the third quarter. Private Trust Co. NA now owns 7,780 shares of the media conglomerate’s stock valued at $425,000 after buying an additional 82 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of CBS Corp. by 1.4% in the third quarter. Capstone Asset Management Co. now owns 30,287 shares of the media conglomerate’s stock valued at $1,658,000 after buying an additional 405 shares in the last quarter. Pensionfund Sabic acquired a new stake in shares of CBS Corp. during the third quarter valued at about $2,025,000. Finally, Pensionfund DSM Netherlands acquired a new stake in shares of CBS Corp. during the third quarter valued at about $4,379,000. 76.80% of the stock is currently owned by institutional investors.
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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