Jefferies Group LLC Reaffirms Buy Rating for CBS Corporation (CBS)

Jefferies Group LLC reissued their buy rating on shares of CBS Corporation (NYSE:CBS) in a research note issued to investors on Wednesday morning. The brokerage currently has a $73.00 target price on the media conglomerate’s stock, up from their previous target price of $71.00. Jefferies Group also issued estimates for CBS Corporation’s Q3 2017 earnings at $1.18 EPS, Q4 2017 earnings at $1.22 EPS, FY2017 earnings at $4.50 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.51 EPS, FY2018 earnings at $5.21 EPS, Q1 2019 earnings at $1.44 EPS, Q2 2019 earnings at $1.31 EPS and FY2019 earnings at $5.91 EPS.

Several other brokerages have also commented on CBS. Pivotal Research restated a hold rating and set a $67.00 target price on shares of CBS Corporation in a research report on Sunday, April 23rd. Rosenblatt Securities upped their target price on CBS Corporation to $40.00 and gave the company a neutral rating in a research report on Monday, April 17th. Guggenheim restated a buy rating and set a $80.00 target price on shares of CBS Corporation in a research report on Friday, April 14th. Needham & Company LLC upped their target price on CBS Corporation from $72.00 to $80.00 and gave the company a buy rating in a research report on Friday, April 28th. Finally, BidaskClub upgraded CBS Corporation from a hold rating to a buy rating in a research report on Tuesday, July 25th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $72.94.

CBS Corporation (NYSE:CBS) traded up 0.79% during trading on Wednesday, reaching $66.71. The company’s stock had a trading volume of 2,770,862 shares. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The firm has a 50 day moving average price of $64.79 and a 200-day moving average price of $64.96. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 169.75 and a beta of 1.71.

CBS Corporation (NYSE:CBS) last released its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect that CBS Corporation will post $4.46 earnings per share for the current year.

WARNING: This piece of content was first reported by Stock Observer and is the sole property of of Stock Observer. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.thestockobserver.com/2017/08/12/jefferies-group-llc-reaffirms-buy-rating-for-cbs-corporation-cbs.html.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s payout ratio is 211.76%.

In related news, EVP Anthony G. Ambrosio sold 8,167 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total value of $344,658.00. Following the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The disclosure for this sale can be found here. Insiders have sold 226,874 shares of company stock valued at $14,499,946 over the last ninety days. 1.67% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Dupont Capital Management Corp acquired a new stake in shares of CBS Corporation during the second quarter worth approximately $102,000. Israel Discount Bank of New York acquired a new stake in shares of CBS Corporation during the first quarter worth approximately $114,000. Parallel Advisors LLC increased its stake in shares of CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after buying an additional 532 shares during the last quarter. Ruggie Capital Group acquired a new stake in shares of CBS Corporation during the first quarter worth approximately $120,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of CBS Corporation during the first quarter worth approximately $157,000. 75.42% of the stock is owned by institutional investors.

About CBS Corporation

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

Receive News & Ratings for CBS Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply