Published On: Mon, Sep 12th, 2016

CBS Corp. (CBS) Given Buy Rating at Jefferies Group

CBS Corp. (NYSE:CBS)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group in a report released on Monday.
CBS has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of CBS Corp. in a research note on Saturday, July 2nd. Morgan Stanley reiterated an “overweight” rating on shares of CBS Corp. in a report on Friday, May 27th. Wells Fargo & Co. reiterated an “outperform” rating on shares of CBS Corp. in a report on Saturday, June 25th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Wednesday, July 20th. Finally, Pivotal Research reiterated a “buy” rating on shares of CBS Corp. in a report on Sunday, July 24th. Four analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.01.
Shares of CBS Corp. (NYSE:CBS) traded up 0.588% during trading on Monday, hitting $52.215. The stock had a trading volume of 1,449,605 shares. The firm has a 50-day moving average price of $52.39 and a 200 day moving average price of $53.57. CBS Corp. has a 52 week low of $38.51 and a 52 week high of $58.22. The company has a market capitalization of $23.21 billion, a PE ratio of 15.448 and a beta of 1.89.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/12/cbs-corp-cbs-given-buy-rating-at-jefferies-group.html

CBS Corp. (NYSE:CBS) last announced 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. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Equities analysts anticipate that CBS Corp. will post $3.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.39%. CBS Corp.’s payout ratio is 21.30%.
A number of institutional investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. bought a new position in CBS Corp. during the first quarter valued at $141,000. Trust Department MB Financial Bank N A increased its position in CBS Corp. by 457.3% in the second quarter. Trust Department MB Financial Bank N A now owns 2,809 shares of the media conglomerate’s stock valued at $156,000 after buying an additional 2,305 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in CBS Corp. by 19.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,115 shares of the media conglomerate’s stock valued at $170,000 after buying an additional 500 shares during the period. WASHINGTON TRUST Co bought a new position in CBS Corp. during the first quarter valued at $224,000. Finally, Sii Investments Inc. WI bought a new position in CBS Corp. during the first quarter valued at $266,000. Institutional investors own 76.82% of the company’s stock.
CBS Corp. Company Profile
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.

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

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>