CBS (CBS) Trading 5.2% Higher

Shares of CBS Corporation (NYSE:CBS) traded up 5.2% on Tuesday . The stock traded as high as $60.14 and last traded at $60.10. 6,750,800 shares traded hands during trading, an increase of 61% from the average session volume of 4,184,522 shares. The stock had previously closed at $57.11.

Several analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating and set a $73.00 target price (up previously from $71.00) on shares of CBS in a research note on Wednesday, August 9th. Argus reissued a “buy” rating and issued a $79.00 price objective (up previously from $71.00) on shares of CBS in a research note on Thursday, August 10th. Citigroup reissued a “buy” rating and issued a $76.00 price objective (up previously from $75.00) on shares of CBS in a research note on Wednesday, August 23rd. ValuEngine downgraded CBS from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Finally, Zacks Investment Research raised CBS from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $73.13.

The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $23,250.34, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.05 and a beta of 1.62.

CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. CBS had a return on equity of 58.49% and a net margin of 2.14%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. CBS’s revenue for the quarter was up 2.8% compared to the same quarter last year. research analysts expect that CBS Corporation will post 4.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Monday, December 11th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, December 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. CBS’s dividend payout ratio is 98.63%.

In other CBS news, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $57.62, for a total value of $8,643,000.00. Following the transaction, the chief executive officer now owns 1,182,652 shares in the company, valued at $68,144,408.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gil D. Schwartz sold 54,131 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $58.40, for a total value of $3,161,250.40. Following the completion of the transaction, the executive vice president now owns 102,483 shares in the company, valued at approximately $5,985,007.20. The disclosure for this sale can be found here. Insiders have sold 369,410 shares of company stock worth $21,537,978 in the last quarter. 1.67% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dupont Capital Management Corp purchased a new position in CBS in the second quarter valued at about $102,000. Parallel Advisors LLC grew its stake in CBS by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after purchasing an additional 532 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in CBS in the second quarter valued at about $205,000. Bridgewater Wealth & Financial Management LLC grew its stake in CBS by 12.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after purchasing an additional 374 shares in the last quarter. Finally, Griffin Asset Management Inc. purchased a new position in CBS in the second quarter valued at about $340,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.

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About CBS

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.

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