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.
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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.
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