CBS Corp. (CBS) Given Average Recommendation of “Buy” by Brokerages
Shares of CBS Corp. (NYSE:CBS) have been assigned a consensus rating of “Buy” from the thirty-two analysts that are currently covering the company. Six research analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $64.04.
Several analysts have recently issued reports on CBS shares. Wunderlich started coverage on shares of CBS Corp. in a research note on Friday, October 21st. They set a “buy” rating and a $72.00 price objective for the company. Jefferies Group reissued a “buy” rating on shares of CBS Corp. in a research note on Monday, August 1st. Zacks Investment Research cut shares of CBS Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Brean Capital set a $65.00 price objective on shares of CBS Corp. and gave the company a “buy” rating in a research note on Tuesday, September 20th. Finally, Telsey Advisory Group cut shares of CBS Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $67.00 to $57.00 in a research note on Thursday, September 22nd.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Old Mutual Global Investors UK Ltd. boosted 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. boosted its position in 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 during the period. Cibc World Markets Corp bought a new position in CBS Corp. during the second quarter valued at about $72,230,000. Numeric Investors LLC boosted its position in 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 during the period. Finally, Capital World Investors boosted its position in CBS Corp. by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock valued at $1,816,267,000 after buying an additional 612,557 shares during the period. Institutional investors and hedge funds own 77.91% of the company’s stock.
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CBS Corp. (NYSE:CBS) traded up 1.07% during mid-day trading on Tuesday, reaching $61.14. The company’s stock had a trading volume of 1,769,464 shares. CBS Corp. has a 1-year low of $41.36 and a 1-year high of $61.34. The stock’s 50 day moving average price is $57.34 and its 200 day moving average price is $54.33. The stock has a market capitalization of $26.27 billion, a P/E ratio of 17.17 and a beta of 1.64.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings data on Thursday, November 3rd. The media conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.07. CBS Corp. had a net margin of 11.32% and a return on equity of 33.06%. The company earned $3.40 million during the quarter, compared to analysts’ expectations of $3.26 million. During the same period in the previous year, the company earned $0.88 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that CBS Corp. will post $4.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, December 7th. CBS Corp.’s dividend payout ratio (DPR) is presently 20.17%.
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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