CBS Corporation’s (CBS) Buy Rating Reiterated at Guggenheim
CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a report released on Friday. They currently have a $78.00 price target on the media conglomerate’s stock. Guggenheim’s price target would indicate a potential upside of 32.43% from the company’s current price.
CBS has been the topic of several other research reports. ValuEngine downgraded CBS Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. BidaskClub upgraded CBS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research note on Wednesday, September 20th. Citigroup Inc. reiterated a “buy” rating and issued a $76.00 price target (up from $75.00) on shares of CBS Corporation in a research note on Wednesday, August 23rd. Finally, Benchmark Co. reiterated a “buy” rating and issued a $81.00 price target on shares of CBS Corporation in a research note on Wednesday, September 27th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.94.
Shares of CBS Corporation (NYSE CBS) traded down 1.503% during mid-day trading on Friday, hitting $58.015. The company’s stock had a trading volume of 493,767 shares. CBS Corporation has a 1-year low of $54.37 and a 1-year high of $70.10. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 147.621 and a beta of 1.68. The company has a 50-day moving average of $60.97 and a 200 day moving average of $63.73.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that CBS Corporation will post $4.46 EPS for the current year.
In related news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,232,652 shares in the company, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 575,735 shares of company stock worth $35,881,495. 1.67% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Focused Investors LLC bought a new position in shares of CBS Corporation during the 2nd quarter worth approximately $72,467,000. Scopus Asset Management L.P. lifted its position in shares of CBS Corporation by 166.7% during the 1st quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock worth $93,636,000 after buying an additional 843,900 shares in the last quarter. FMR LLC lifted its position in shares of CBS Corporation by 21.2% during the 1st quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after buying an additional 618,593 shares in the last quarter. BlueCrest Capital Management Ltd lifted its position in shares of CBS Corporation by 957.7% during the 1st quarter. BlueCrest Capital Management Ltd now owns 431,485 shares of the media conglomerate’s stock worth $29,928,000 after buying an additional 390,689 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of CBS Corporation during the 1st quarter worth approximately $26,684,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.
CBS Corporation Company Profile
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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