CBS Corporation (CBS) Downgraded to Hold at ValuEngine
ValuEngine lowered shares of CBS Corporation (NYSE:CBS) from a buy rating to a hold rating in a research report released on Monday morning.
Several other equities research analysts have also recently issued reports on CBS. Cowen and Company reissued an outperform rating and set a $70.00 target price on shares of CBS Corporation in a research note on Monday, May 15th. Royal Bank Of Canada set a $75.00 target price on CBS Corporation and gave the stock a buy rating in a research note on Tuesday, June 6th. Guggenheim reissued a buy rating and set a $78.00 target price on shares of CBS Corporation in a research note on Tuesday, June 13th. Jefferies Group LLC reissued a buy rating and set a $71.00 target price on shares of CBS Corporation in a research note on Wednesday, June 14th. Finally, BidaskClub raised CBS Corporation from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $73.44.
Shares of CBS Corporation (CBS) opened at 58.00 on Monday. CBS Corporation has a one year low of $48.88 and a one year high of $70.10. The stock’s 50 day moving average price is $64.89 and its 200 day moving average price is $64.87. The stock has a market capitalization of $23.30 billion, a PE ratio of 147.58 and a beta of 1.70.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. Equities research analysts predict that CBS Corporation will post $4.46 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is 211.76%.
In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leslie Moonves sold 150,000 shares of CBS Corporation stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total value of $9,702,000.00. Following the sale, the chief executive officer now directly owns 1,182,652 shares of the company’s stock, valued at $76,493,931.36. The disclosure for this sale can be found here. Insiders have sold a total of 376,874 shares of company stock valued at $24,201,946 over the last ninety days. 2.03% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Griffin Asset Management Inc. purchased a new stake in CBS Corporation during the 2nd quarter worth about $340,000. Sentry Investment Management LLC lifted its holdings in CBS Corporation by 1.5% during the 2nd quarter. Sentry Investment Management LLC now owns 88,682 shares of the media conglomerate’s stock worth $5,656,000 after buying an additional 1,279 shares during the last quarter. Toronto Dominion Bank lifted its holdings in CBS Corporation by 24.1% during the 2nd quarter. Toronto Dominion Bank now owns 124,828 shares of the media conglomerate’s stock worth $7,959,000 after buying an additional 24,241 shares during the last quarter. Colony Group LLC lifted its holdings in CBS Corporation by 8.5% during the 2nd quarter. Colony Group LLC now owns 132,430 shares of the media conglomerate’s stock worth $8,446,000 after buying an additional 10,394 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in CBS Corporation during the 2nd quarter worth about $3,011,000. 75.09% of the stock is owned by institutional investors.
About CBS Corporation
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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