CBS (NYSE:CBS) had its target price hoisted by Loop Capital to $65.00 in a research note issued to investors on Monday morning, The Fly reports. Loop Capital currently has a buy rating on the media conglomerate’s stock.
A number of other research firms have also issued reports on CBS. Imperial Capital reaffirmed an outperform rating and issued a $72.00 target price (down previously from $75.00) on shares of CBS in a report on Tuesday, February 19th. Barrington Research reaffirmed a buy rating and issued a $72.00 target price on shares of CBS in a report on Tuesday, February 19th. Atlantic Securities lowered CBS from an overweight rating to a neutral rating and set a $56.00 target price on the stock. in a report on Monday, February 11th. BMO Capital Markets reaffirmed a buy rating and issued a $63.00 target price on shares of CBS in a report on Tuesday, February 5th. Finally, Benchmark lowered their target price on CBS from $90.00 to $71.00 and set a buy rating on the stock in a report on Wednesday, February 13th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $64.63.
CBS opened at $51.11 on Monday. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.70 and a beta of 1.24. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 3.38. CBS has a 12-month low of $41.38 and a 12-month high of $59.59.
CBS (NYSE:CBS) last released its earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.13 billion. CBS had a net margin of 13.50% and a return on equity of 83.61%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. Research analysts expect that CBS will post 5.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, March 8th. CBS’s payout ratio is presently 13.87%.
In related news, EVP Jonathan Anschell sold 20,730 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $50.11, for a total value of $1,038,780.30. Following the sale, the executive vice president now owns 23,358 shares of the company’s stock, valued at approximately $1,170,469.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary L. Countryman sold 4,584 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $51.35, for a total value of $235,388.40. Following the completion of the sale, the director now directly owns 63,454 shares in the company, valued at approximately $3,258,362.90. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Investec Asset Management LTD boosted its stake in CBS by 0.7% in the 4th quarter. Investec Asset Management LTD now owns 3,724,238 shares of the media conglomerate’s stock valued at $162,824,000 after buying an additional 24,908 shares in the last quarter. Victory Capital Management Inc. raised its position in CBS by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 3,301,372 shares of the media conglomerate’s stock valued at $144,337,000 after purchasing an additional 67,034 shares during the last quarter. Baupost Group LLC MA bought a new position in CBS in the 4th quarter valued at $111,357,000. APG Asset Management N.V. raised its position in CBS by 26.7% in the 4th quarter. APG Asset Management N.V. now owns 2,242,918 shares of the media conglomerate’s stock valued at $85,781,000 after purchasing an additional 472,042 shares during the last quarter. Finally, Legal & General Group Plc raised its position in CBS by 14.3% in the 4th quarter. Legal & General Group Plc now owns 1,809,362 shares of the media conglomerate’s stock valued at $79,105,000 after purchasing an additional 226,403 shares during the last quarter. 75.73% of the stock is currently owned by institutional investors and hedge funds.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.
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