CBS Corp. (NYSE:CBS) has been given a $65.00 price objective by stock analysts at Brean Capital in a report released on Tuesday. The brokerage presently has a a “buy” rating on the media conglomerate’s stock. Brean Capital’s target price would suggest a potential upside of 29.79% from the company’s previous close.
A number of other brokerages have also issued reports on CBS. Wells Fargo & Co. lowered CBS Corp. to a “buy” rating in a research report on Monday, July 11th. Pivotal Research reaffirmed a “buy” rating on shares of CBS Corp. in a research report on Sunday, July 24th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Wednesday, July 20th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of CBS Corp. in a report on Saturday, July 2nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of CBS Corp. in a report on Friday, June 17th. Four equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $62.01.
Shares of CBS Corp. (NYSE:CBS) opened at 50.08 on Tuesday. The firm has a market cap of $22.27 billion, a PE ratio of 14.82 and a beta of 1.89. The company has a 50-day moving average of $51.91 and a 200-day moving average of $53.73. CBS Corp. has a 1-year low of $38.51 and a 1-year high of $58.22.
CBS Corp. (NYSE:CBS) last announced its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. CBS Corp.’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts predict that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. CBS Corp.’s dividend payout ratio is 21.30%.
A number of large investors have recently added to or reduced their stakes in CBS. TIAA CREF Investment Management LLC raised its stake in CBS Corp. by 9.7% in the first quarter. TIAA CREF Investment Management LLC now owns 4,737,980 shares of the media conglomerate’s stock worth $261,015,000 after buying an additional 420,237 shares during the period. Ngam Advisors L.P. raised its stake in CBS Corp. by 61.0% in the first quarter. Ngam Advisors L.P. now owns 140,003 shares of the media conglomerate’s stock worth $7,713,000 after buying an additional 53,024 shares during the period. WASHINGTON TRUST Co acquired a new stake in CBS Corp. during the first quarter worth approximately $224,000. Addenda Capital Inc. raised its stake in CBS Corp. by 0.3% in the first quarter. Addenda Capital Inc. now owns 116,056 shares of the media conglomerate’s stock worth $6,410,000 after buying an additional 343 shares during the period. Finally, IFP Advisors Inc raised its stake in CBS Corp. by 104.3% in the first quarter. IFP Advisors Inc now owns 5,933 shares of the media conglomerate’s stock worth $327,000 after buying an additional 3,029 shares during the period. 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.
Receive News & Ratings for CBS Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corp. and related companies with MarketBeat.com's FREE daily email newsletter.