Today: Today, Argus Reaffirms “Buy” Rating for CBS Corp. (CBS)

Today, Argus Reaffirms “Buy” Rating for CBS Corp. (CBS)

Argus restated their buy rating on shares of CBS Corp. (NYSE:CBS) in a report released on Tuesday. The brokerage currently has a $71.00 price objective on the media conglomerate’s stock.

Several other brokerages have also issued reports on CBS. Wells Fargo & Co. reaffirmed an outperform rating on shares of CBS Corp. in a research report on Saturday, June 25th. Brean Capital reaffirmed a buy rating and set a $65.00 target price on shares of CBS Corp. in a research report on Sunday, July 17th. Jefferies Group reaffirmed a buy rating on shares of CBS Corp. in a research report on Monday, August 1st. Sanford C. Bernstein reaffirmed a market perform rating on shares of CBS Corp. in a research report on Friday, June 17th. Finally, Zacks Investment Research lowered CBS Corp. from a buy rating to a hold rating in a research report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $62.64.

Shares of CBS Corp. (NYSE:CBS) opened at 56.21 on Tuesday. The company has a market cap of $24.99 billion, a PE ratio of 16.63 and a beta of 1.81. CBS Corp. has a 52-week low of $41.36 and a 52-week high of $58.22. The company’s 50-day moving average is $52.42 and its 200 day moving average is $53.79.

CBS Corp. (NYSE:CBS) last issued its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period last year, the business earned $0.74 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that CBS Corp. will post $3.09 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were paid a $0.18 dividend. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, September 7th. CBS Corp.’s payout ratio is 21.30%.

Institutional investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. boosted its position in shares of CBS Corp. by 0.3% in the second quarter. Tocqueville Asset Management L.P. now owns 7,918 shares of the media conglomerate’s stock worth $431,000 after buying an additional 21 shares during the period. Advisor Partners LLC boosted its position in CBS Corp. by 0.7% in the first quarter. Advisor Partners LLC now owns 5,218 shares of the media conglomerate’s stock valued at $287,000 after buying an additional 34 shares during the period. Hollencrest Securities LLC boosted its position in CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock valued at $399,000 after buying an additional 34 shares during the period. Abner Herrman & Brock LLC boosted its position in CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock valued at $436,000 after buying an additional 50 shares during the period. Finally, TIAA CREF Trust Co. FSB MO boosted its position in CBS Corp. by 0.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 10,184 shares of the media conglomerate’s stock valued at $554,000 after buying an additional 54 shares during the period. 76.78% of the stock is currently owned by institutional investors and hedge funds.

CBS Corp. Company Profile

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