CBS Co. (CBS) Rating Reiterated by Pivotal Research
Pivotal Research restated their hold rating on shares of CBS Co. (NYSE:CBS) in a research report sent to investors on Sunday. They currently have a $67.00 price target on the media conglomerate’s stock.
Several other research analysts have also weighed in on CBS. FBR & Co reissued a buy rating and issued a $86.00 price objective on shares of CBS in a research report on Friday, April 7th. Rosenblatt Securities reaffirmed a buy rating and issued a $80.00 target price on shares of CBS in a research report on Friday, April 14th. BMO Capital Markets reaffirmed a buy rating and issued a $73.00 target price on shares of CBS in a research report on Thursday, February 16th. Needham & Company LLC reaffirmed a buy rating and issued a $72.00 target price on shares of CBS in a research report on Thursday, February 16th. Finally, Wells Fargo & Co reaffirmed an outperform rating and issued a $77.50 target price (up from $74.00) on shares of CBS in a research report on Friday, April 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. CBS presently has a consensus rating of Buy and an average target price of $70.30.
CBS (NYSE:CBS) traded down 2.66% during midday trading on Friday, hitting $66.84. The stock had a trading volume of 5,891,673 shares. The company’s 50-day moving average price is $67.86 and its 200 day moving average price is $63.08. The company has a market capitalization of $27.37 billion, a PE ratio of 23.79 and a beta of 1.66. CBS has a 52 week low of $48.88 and a 52 week high of $70.10.
CBS (NYSE:CBS) last posted its quarterly earnings data on Wednesday, February 15th. The media conglomerate reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.01. CBS had a return on equity of 33.06% and a net margin of 11.32%. The firm earned $3.52 billion during the quarter, compared to analyst estimates of $4.03 billion. On average, analysts expect that CBS will post $4.43 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Friday, March 10th were paid a $0.18 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.08%. CBS’s dividend payout ratio is presently 20.17%.
In related news, EVP Lawrence Tu sold 28,641 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $67.68, for a total value of $1,938,422.88. Following the transaction, the executive vice president now owns 5,732 shares of the company’s stock, valued at $387,941.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Joseph R. Ianniello sold 68,869 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $67.40, for a total transaction of $4,641,770.60. Following the sale, the chief operating officer now owns 305,580 shares of the company’s stock, valued at $20,596,092. The disclosure for this sale can be found here. In the last three months, insiders sold 130,641 shares of company stock worth $8,741,329. 1.67% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CBS. Sowell Financial Services LLC acquired a new stake in CBS during the fourth quarter valued at about $116,000. State of Alaska Department of Revenue acquired a new stake in CBS during the first quarter valued at about $157,000. Ariel Capital Advisors LLC acquired a new stake in CBS during the third quarter valued at about $223,000. Chesley Taft & Associates LLC acquired a new stake in CBS during the first quarter valued at about $223,000. Finally, Cornercap Investment Counsel Inc. acquired a new stake in CBS during the fourth quarter valued at about $230,000. Institutional investors and hedge funds own 78.18% of the company’s stock.
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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