Analysts at Loop Capital initiated coverage on shares of CBS (NYSE:CBS) in a report issued on Thursday. The firm set a “buy” rating on the media conglomerate’s stock.
A number of other analysts have also recently issued reports on the company. Citigroup lowered their target price on CBS from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. BMO Capital Markets lowered their target price on CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Royal Bank of Canada set a $71.00 target price on CBS and gave the stock a “buy” rating in a research note on Saturday, February 17th. TheStreet cut CBS from a “b” rating to a “c” rating in a research note on Thursday, February 15th. Finally, Benchmark reissued a “buy” rating on shares of CBS in a research note on Friday, February 16th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. CBS currently has a consensus rating of “Buy” and an average target price of $70.83.
Shares of CBS (CBS) traded down $0.23 during mid-day trading on Thursday, hitting $51.04. The stock had a trading volume of 2,532,570 shares, compared to its average volume of 4,343,937. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 4.78. The company has a market cap of $19,560.00, a PE ratio of 12.01, a PEG ratio of 0.75 and a beta of 1.51. CBS has a one year low of $50.54 and a one year high of $70.10.
CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, February 15th. The media conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.71 billion. CBS had a return on equity of 67.23% and a net margin of 2.61%. CBS’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 EPS. analysts anticipate that CBS will post 5.21 EPS for the current year.
In other news, COO Joseph R. Ianniello sold 2,400 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total value of $144,312.00. Following the completion of the sale, the chief operating officer now owns 320,723 shares of the company’s stock, valued at approximately $19,285,073.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Leslie Moonves sold 85,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $59.07, for a total value of $5,020,950.00. Following the completion of the sale, the chief executive officer now directly owns 971,448 shares of the company’s stock, valued at approximately $57,383,433.36. The disclosure for this sale can be found here. In the last three months, insiders sold 221,284 shares of company stock valued at $12,780,568. 1.67% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC acquired a new stake in CBS during the 4th quarter valued at $119,000. We Are One Seven LLC acquired a new stake in CBS during the 4th quarter valued at $137,000. Financial Gravity Companies Inc. acquired a new stake in CBS during the 4th quarter valued at $143,000. Advisors Preferred LLC acquired a new stake in CBS during the 4th quarter valued at $213,000. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in CBS during the 4th quarter valued at $227,000. 77.98% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “CBS (CBS) Receives New Coverage from Analysts at Loop Capital” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/15/cbs-cbs-receives-new-coverage-from-analysts-at-loop-capital.html.
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.
Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.