Guggenheim reaffirmed their buy rating on shares of CBS Co. (NYSE:CBS) in a research report report published on Tuesday morning. Guggenheim currently has a $78.00 price objective on the media conglomerate’s stock.

Several other equities analysts have also issued reports on CBS. Cowen and Company reissued an outperform rating and set a $70.00 target price on shares of CBS in a research note on Monday, May 15th. Needham & Company LLC reissued a buy rating and set a $72.00 target price on shares of CBS in a research note on Thursday, February 16th. BMO Capital Markets reissued a buy rating and set a $73.00 target price on shares of CBS in a research note on Thursday, February 16th. Instinet increased their target price on CBS to $70.00 in a research note on Monday, February 13th. Finally, Loop Capital reissued a buy rating and set a $76.00 target price on shares of CBS in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. CBS currently has an average rating of Buy and a consensus price target of $71.17.

Shares of CBS (CBS) opened at 62.23 on Tuesday. The stock’s 50 day moving average price is $62.22 and its 200 day moving average price is $64.63. The company has a market capitalization of $25.26 billion, a P/E ratio of 50.76 and a beta of 1.69. CBS has a 52-week low of $48.88 and a 52-week high of $70.10.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, May 4th. The media conglomerate reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. CBS had a return on equity of 55.40% and a net margin of 14.09%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts forecast that CBS will post $4.47 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. CBS’s dividend payout ratio (DPR) is presently 63.72%.

Large investors have recently made changes to their positions in the stock. GSB Wealth Management LLC increased its stake in shares of CBS by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock valued at $314,000 after buying an additional 12 shares during the period. Asset Management Group Inc. increased its stake in shares of CBS by 0.3% in the fourth quarter. Asset Management Group Inc. now owns 6,107 shares of the media conglomerate’s stock valued at $389,000 after buying an additional 19 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of CBS by 0.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,997 shares of the media conglomerate’s stock valued at $382,000 after buying an additional 37 shares during the period. WASHINGTON TRUST Co increased its stake in shares of CBS by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock valued at $311,000 after buying an additional 37 shares during the period. Finally, 1ST Source Bank increased its stake in shares of CBS by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock valued at $300,000 after buying an additional 50 shares during the period. Institutional investors own 76.47% of the company’s stock.

About CBS

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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