CBS Co. (CBS) Receives $64.90 Average PT from Brokerages

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Shares of CBS Co. (NYSE:CBS) have been assigned a consensus rating of “Buy” from the twenty-eight ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $64.90.

Several equities analysts have issued reports on the stock. TheStreet upgraded shares of CBS from a “c+” rating to a “b-” rating in a research report on Wednesday, June 27th. ValuEngine upgraded shares of CBS from a “sell” rating to a “hold” rating in a research report on Tuesday. Imperial Capital assumed coverage on shares of CBS in a research report on Thursday, June 28th. They issued an “outperform” rating and a $71.00 price target for the company. Loop Capital Mk restated a “buy” rating on shares of CBS in a research report on Friday, August 3rd. Finally, B. Riley increased their price objective on shares of CBS from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th.

NYSE CBS traded up $0.50 on Wednesday, hitting $54.32. The company’s stock had a trading volume of 2,469,114 shares, compared to its average volume of 3,837,750. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.10 and a current ratio of 1.60. CBS has a 1-year low of $47.54 and a 1-year high of $61.59. The stock has a market cap of $21.60 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. CBS had a net margin of 10.21% and a return on equity of 81.10%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the company posted $1.04 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Analysts predict that CBS will post 5.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 10th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, September 7th. CBS’s dividend payout ratio is presently 17.18%.

In related news, EVP Anthony G. Ambrosio sold 11,697 shares of the stock in a transaction on Friday, September 28th. The shares were sold at an average price of $57.53, for a total transaction of $672,928.41. Following the transaction, the executive vice president now directly owns 80,950 shares of the company’s stock, valued at $4,657,053.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony G. Ambrosio sold 2,100 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $55.16, for a total transaction of $115,836.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,925 shares of company stock worth $1,882,469. 1.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CBS. Sound Shore Management Inc. CT raised its holdings in shares of CBS by 1.8% in the second quarter. Sound Shore Management Inc. CT now owns 3,572,553 shares of the media conglomerate’s stock valued at $200,849,000 after purchasing an additional 62,318 shares during the last quarter. Focused Investors LLC raised its holdings in shares of CBS by 0.4% in the second quarter. Focused Investors LLC now owns 2,498,300 shares of the media conglomerate’s stock valued at $140,454,000 after purchasing an additional 9,200 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of CBS by 31.7% in the first quarter. Kovitz Investment Group Partners LLC now owns 1,758,992 shares of the media conglomerate’s stock valued at $90,395,000 after purchasing an additional 423,383 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of CBS by 3.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,083,439 shares of the media conglomerate’s stock valued at $60,911,000 after purchasing an additional 33,347 shares during the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of CBS by 13.3% in the first quarter. Guggenheim Capital LLC now owns 696,335 shares of the media conglomerate’s stock valued at $35,785,000 after purchasing an additional 81,613 shares during the last quarter. 74.89% of the stock is currently owned by institutional investors and hedge funds.

About CBS

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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