Credit Suisse Group AG restated their outperform rating on shares of CBS Corp. (NYSE:CBS) in a research report released on Wednesday morning. They currently have a $75.00 target price on the media conglomerate’s stock.
CBS has been the topic of several other research reports. Jefferies Group restated a buy rating on shares of CBS Corp. in a research report on Monday, September 12th. Drexel Hamilton assumed coverage on CBS Corp. in a research report on Tuesday, September 6th. They set a buy rating and a $65.00 target price on the stock. JPMorgan Chase & Co. restated a buy rating on shares of CBS Corp. in a research report on Thursday, June 30th. Brean Capital set a $65.00 target price on CBS Corp. and gave the company a buy rating in a research report on Thursday, September 29th. Finally, BMO Capital Markets restated an outperform rating and set a $63.00 target price on shares of CBS Corp. in a research report on Sunday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. CBS Corp. has a consensus rating of Buy and a consensus price target of $62.64.
CBS Corp. (NYSE:CBS) last announced its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year.
The company 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 an increase from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
Large investors have recently added to or reduced their stakes in the stock. Virginia Retirement System purchased a new stake in CBS Corp. during the first quarter worth $387,000. IFP Advisors Inc increased 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 last quarter. Teachers Advisors Inc. increased its stake in CBS Corp. by 21.0% in the first quarter. Teachers Advisors Inc. now owns 980,546 shares of the media conglomerate’s stock worth $54,018,000 after buying an additional 170,093 shares during the last quarter. Columbia Partners L L C Investment Management purchased a new stake in CBS Corp. during the first quarter worth $1,071,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in CBS Corp. during the first quarter worth $141,000. Institutional investors and hedge funds own 76.79% of the company’s stock.
About CBS Corp.
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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