Equities researchers at Loop Capital began coverage on shares of CBS (NYSE:CBS) in a report issued on Thursday, March 15th, Marketbeat reports. The brokerage set a “buy” rating and a $75.00 price target on the media conglomerate’s stock. Loop Capital’s target price points to a potential upside of 41.94% from the company’s previous close.
Several other research analysts have also issued reports on the stock. Citigroup dropped their price target on shares of CBS from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. BMO Capital Markets decreased their price objective on shares of CBS from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada set a $71.00 price objective on shares of CBS and gave the stock a “buy” rating in a research note on Saturday, February 17th. TheStreet cut shares of CBS from a “b” rating to a “c” rating in a research note on Thursday, February 15th. Finally, Benchmark reaffirmed a “buy” rating on shares of CBS in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. CBS currently has a consensus rating of “Buy” and a consensus price target of $69.95.
NYSE:CBS opened at $52.84 on Thursday. CBS has a 12-month low of $49.24 and a 12-month high of $69.31. The company has a debt-to-equity ratio of 4.78, a current ratio of 1.58 and a quick ratio of 1.12. The stock has a market capitalization of $20,238.18, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.77 and a beta of 1.47.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.06. CBS had a net margin of 2.61% and a return on equity of 67.23%. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business posted $1.11 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. equities analysts predict that CBS will post 5.21 EPS for the current fiscal year.
In other CBS news, COO Joseph R. Ianniello sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $60.13, for a total value of $144,312.00. Following the transaction, the chief operating officer now directly owns 320,723 shares of the company’s stock, valued at $19,285,073.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $59.07, for a total transaction of $5,020,950.00. Following the completion of the transaction, the chief executive officer now directly owns 971,448 shares in the company, valued at $57,383,433.36. The disclosure for this sale can be found here. Insiders have sold 306,284 shares of company stock worth $17,069,668 over the last three months. 1.67% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. TIAA CREF Investment Management LLC boosted its stake in CBS by 10.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 4,529,331 shares of the media conglomerate’s stock valued at $267,231,000 after acquiring an additional 443,907 shares during the last quarter. Victory Capital Management Inc. boosted its stake in CBS by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 3,577,959 shares of the media conglomerate’s stock valued at $211,100,000 after acquiring an additional 744,366 shares during the last quarter. Focused Investors LLC boosted its stake in CBS by 57.9% in the fourth quarter. Focused Investors LLC now owns 2,565,400 shares of the media conglomerate’s stock valued at $151,359,000 after acquiring an additional 940,500 shares during the last quarter. Sound Shore Management Inc. CT boosted its stake in CBS by 32.8% in the third quarter. Sound Shore Management Inc. CT now owns 2,440,353 shares of the media conglomerate’s stock valued at $141,540,000 after acquiring an additional 603,157 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in CBS by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 1,437,701 shares of the media conglomerate’s stock valued at $84,824,000 after acquiring an additional 48,036 shares during the last quarter. 77.95% of the stock is currently owned by hedge funds and other institutional investors.
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CBS Company Profile
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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