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.
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.
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.