Other analysts have also issued research reports about the stock. Credit Suisse Group AG reiterated a buy rating and issued a $75.00 target price on shares of CBS Corp. in a research note on Friday, July 29th. Deutsche Bank AG upped their target price on shares of CBS Corp. from $65.00 to $68.00 and gave the stock a buy rating in a research note on Friday, July 29th. Pivotal Research reiterated a buy rating on shares of CBS Corp. in a research note on Sunday, July 24th. Zacks Investment Research upgraded shares of CBS Corp. from a hold rating to a buy rating and set a $62.00 target price for the company in a research note on Wednesday, July 20th. Finally, Wells Fargo & Co. lowered shares of CBS Corp. to a buy rating in a research note on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $61.91.
CBS Corp. (NYSE:CBS) opened at 54.93 on Thursday. CBS Corp. has a 52-week low of $41.29 and a 52-week high of $58.22. The company’s 50-day moving average is $52.06 and its 200-day moving average is $53.74. The company has a market capitalization of $24.42 billion, a price-to-earnings ratio of 16.25 and a beta of 1.81.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The business earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. CBS Corp.’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. On average, analysts expect that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were given a dividend of $0.18 per share. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Wednesday, September 7th. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beacon Financial Group acquired a new position in shares of CBS Corp. during the third quarter worth approximately $498,000. Macquarie Group Ltd. boosted its position in shares of CBS Corp. by 30.3% in the second quarter. Macquarie Group Ltd. now owns 225,950 shares of the media conglomerate’s stock worth $12,301,000 after buying an additional 52,600 shares during the last quarter. Williams Jones & Associates LLC boosted its position in shares of CBS Corp. by 84.2% in the second quarter. Williams Jones & Associates LLC now owns 114,966 shares of the media conglomerate’s stock worth $6,259,000 after buying an additional 52,546 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of CBS Corp. during the second quarter worth approximately $913,000. Finally, Kentucky Retirement Systems acquired a new position in shares of CBS Corp. during the second quarter worth approximately $1,923,000. Institutional investors and hedge funds own 76.78% of the company’s stock.
CBS Corp. Company Profile
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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