CBS (CBS) Given New $71.00 Price Target at Citigroup

CBS (NYSE:CBS) had its price objective decreased by analysts at Citigroup from $75.00 to $71.00 in a research note issued on Thursday. The firm presently has a “buy” rating on the media conglomerate’s stock. Citigroup’s price target indicates a potential upside of 27.51% from the stock’s previous close.

Several other analysts also recently commented on CBS. Cowen reaffirmed a “buy” rating and set a $69.00 target price on shares of CBS in a report on Friday, October 27th. Zacks Investment Research raised shares of CBS from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price (down previously from $80.00) on shares of CBS in a report on Friday, November 3rd. Royal Bank of Canada reduced their target price on shares of CBS from $77.00 to $66.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Finally, Credit Suisse Group reduced their target price on shares of CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $70.83.

Shares of CBS (CBS) traded up $0.30 during mid-day trading on Thursday, hitting $55.68. 358,039 shares of the company traded hands, compared to its average volume of 4,510,885. The company has a market cap of $22,150.00, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.81 and a beta of 1.50. The company has a quick ratio of 1.12, a current ratio of 1.58 and a debt-to-equity ratio of 4.78. CBS has a 1-year low of $50.63 and a 1-year high of $70.10.

CBS (NYSE:CBS) last announced its earnings results on Thursday, February 15th. The media conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.71 billion. CBS had a net margin of 2.61% and a return on equity of 67.23%. CBS’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 EPS. equities research analysts anticipate that CBS will post 5.21 earnings per share for the current fiscal year.

In other news, CEO Leslie Moonves sold 85,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total value of $4,917,250.00. Following the completion of the transaction, the chief executive officer now directly owns 884,513 shares in the company, valued at approximately $51,169,077.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arnold Kopelson sold 5,093 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $59.51, for a total transaction of $303,084.43. The disclosure for this sale can be found here. Insiders sold a total of 226,377 shares of company stock valued at $13,319,103 over the last 90 days. Corporate insiders own 1.67% of the company’s stock.

Several large investors have recently modified their holdings of CBS. Handelsbanken Fonder AB raised its position in shares of CBS by 11.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 190,000 shares of the media conglomerate’s stock valued at $11,020,000 after buying an additional 20,000 shares in the last quarter. Aperio Group LLC raised its position in shares of CBS by 3.4% in the 3rd quarter. Aperio Group LLC now owns 218,138 shares of the media conglomerate’s stock valued at $12,652,000 after buying an additional 7,088 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of CBS in the 3rd quarter valued at approximately $1,562,000. Bremer Trust National Association raised its position in shares of CBS by 6.4% in the 3rd quarter. Bremer Trust National Association now owns 32,458 shares of the media conglomerate’s stock valued at $1,883,000 after buying an additional 1,947 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of CBS by 16.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 578,900 shares of the media conglomerate’s stock valued at $33,576,000 after buying an additional 80,600 shares in the last quarter. Institutional investors own 75.21% of the company’s stock.

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About CBS

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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