CBS Corp. (NYSE:CBS)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a report issued on Friday.
A number of other research firms also recently weighed in on CBS. Wells Fargo & Co. downgraded CBS Corp. to a “buy” rating in a report on Monday, July 11th. Brean Capital reissued a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a research report on Sunday, July 17th. Pivotal Research reissued a “buy” rating on shares of CBS Corp. in a research report on Sunday, July 24th. Zacks Investment Research raised CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Wednesday, July 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a research report on Saturday, July 2nd. Five research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. CBS Corp. presently has an average rating of “Buy” and a consensus price target of $61.91.
CBS Corp. (NYSE:CBS) traded up 0.31% during mid-day trading on Friday, reaching $54.74. The company’s stock had a trading volume of 8,244,036 shares. CBS Corp. has a 12-month low of $40.50 and a 12-month high of $58.22. The firm has a market cap of $24.34 billion, a PE ratio of 16.20 and a beta of 1.89. The company has a 50-day moving average price of $51.91 and a 200-day moving average price of $53.73.
CBS Corp. (NYSE:CBS) last posted its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that CBS Corp. will post $3.09 earnings per share for the current 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 issued a $0.18 dividend. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.32%. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. British Columbia Investment Management Corp increased its position in shares of CBS Corp. by 9.6% in the second quarter. British Columbia Investment Management Corp now owns 196,111 shares of the media conglomerate’s stock worth $10,676,000 after buying an additional 17,103 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of CBS Corp. during the first quarter worth approximately $25,427,000. Kovitz Investment Group Partners LLC acquired a new position in shares of CBS Corp. during the first quarter worth approximately $51,458,000. Envestnet Asset Management Inc. increased its position in shares of CBS Corp. by 35.1% in the first quarter. Envestnet Asset Management Inc. now owns 96,976 shares of the media conglomerate’s stock worth $5,342,000 after buying an additional 25,183 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its position in shares of CBS Corp. by 11.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,861 shares of the media conglomerate’s stock worth $156,000 after buying an additional 300 shares during the last quarter. 76.78% of the stock is owned by hedge funds and other institutional investors.
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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