CBS Corporation’s (CBS) “Buy” Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of CBS Corporation (NYSE:CBS) in a report published on Tuesday. Jefferies Group LLC currently has a $73.00 price target on the media conglomerate’s stock. Jefferies Group also issued estimates for CBS Corporation’s Q4 2017 earnings at $1.27 EPS, Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $1.47 EPS and Q3 2019 earnings at $1.51 EPS.
CBS has been the topic of several other reports. Benchmark Co. reiterated a buy rating and issued a $81.00 target price on shares of CBS Corporation in a research note on Wednesday, September 27th. Cowen and Company restated a buy rating on shares of CBS Corporation in a research report on Thursday, September 21st. Rosenblatt Securities restated a buy rating and set a $80.00 price target on shares of CBS Corporation in a research report on Wednesday, September 20th. Needham & Company LLC restated a buy rating and set a $80.00 price target on shares of CBS Corporation in a research report on Wednesday, September 13th. Finally, ValuEngine cut shares of CBS Corporation from a buy rating to a hold rating in a report on Monday, September 11th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $74.94.
CBS Corporation (NYSE:CBS) traded up 1.70% on Tuesday, reaching $59.89. The company had a trading volume of 1,495,457 shares. The stock has a market capitalization of $24.05 billion, a P/E ratio of 152.39 and a beta of 1.68. The stock’s 50-day moving average price is $61.38 and its 200-day moving average price is $63.79. CBS Corporation has a 12-month low of $54.37 and a 12-month high of $70.10. CBS Corporation also was the recipient of unusually large options trading activity on Monday. Investors purchased 7,736 call options on the company. This is an increase of 179% compared to the average volume of 2,770 call options.
CBS Corporation (NYSE:CBS) last released its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. CBS Corporation’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. On average, equities research analysts anticipate that CBS Corporation will post $4.47 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is 211.76%.
In other CBS Corporation news, CEO Leslie Moonves sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $59.04, for a total transaction of $8,856,000.00. Following the completion of the transaction, the chief executive officer now owns 1,182,652 shares of the company’s stock, valued at approximately $69,823,774.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. Insiders sold 575,735 shares of company stock worth $35,881,495 over the last three months. 2.03% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dupont Capital Management Corp bought a new stake in shares of CBS Corporation in the 2nd quarter worth approximately $102,000. Israel Discount Bank of New York purchased a new position in shares of CBS Corporation during the first quarter valued at approximately $114,000. Parallel Advisors LLC increased its stake in shares of CBS Corporation by 42.5% during the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after buying an additional 532 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of CBS Corporation by 31.4% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock valued at $187,000 after buying an additional 701 shares during the period. Finally, Tocqueville Asset Management L.P. bought a new position in shares of CBS Corporation during the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 75.08% of the company’s stock.
CBS Corporation Company Profile
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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