CBS Corp. (NYSE:CBS) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday. They presently have a $63.00 target price on the media conglomerate’s stock. BMO Capital Markets’ target price indicates a potential upside of 4.98% from the stock’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 4th. Brean Capital set a $65.00 target price on shares of CBS Corp. and gave the stock a “buy” rating in a report on Thursday, September 29th. Guggenheim reiterated a “buy” rating and issued a $63.00 target price on shares of CBS Corp. in a report on Saturday, September 3rd. Credit Suisse Group AG reiterated a “buy” rating and issued a $75.00 target price on shares of CBS Corp. in a report on Friday, July 29th. Finally, Deutsche Bank AG increased their target price on shares of CBS Corp. from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Six investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. CBS Corp. currently has a consensus rating of “Buy” and an average target price of $63.90.
Shares of CBS Corp. (NYSE:CBS) opened at 60.01 on Wednesday. CBS Corp. has a one year low of $41.36 and a one year high of $61.34. The company has a 50-day moving average of $57.04 and a 200-day moving average of $54.28. The company has a market capitalization of $25.79 billion, a PE ratio of 16.85 and a beta of 1.64.
CBS Corp. (NYSE:CBS) last posted its earnings results on Thursday, November 3rd. The media conglomerate reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.07. The company had revenue of $3.40 million for the quarter, compared to analyst estimates of $3.26 million. CBS Corp. had a net margin of 11.32% and a return on equity of 33.06%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. On average, analysts anticipate that CBS Corp. will post $4.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, December 7th. CBS Corp.’s payout ratio is 20.17%.
Institutional investors have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. increased its position in shares of CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares during the last quarter. Bessemer Group Inc. increased its position in shares of CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock valued at $89,471,000 after buying an additional 1,642,998 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of CBS Corp. during the second quarter valued at approximately $72,230,000. Numeric Investors LLC increased its position in shares of CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock valued at $64,442,000 after buying an additional 1,177,318 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of CBS Corp. during the first quarter valued at approximately $51,458,000. 77.41% of the stock is owned by institutional investors and hedge funds.
About CBS Corp.