Benchmark Reiterates “Buy” Rating for CBS (CBS)

Benchmark restated their buy rating on shares of CBS (NYSE:CBS) in a report released on Friday, November 2nd. Benchmark currently has a $90.00 target price on the media conglomerate’s stock.

“We continue to believe CBS represents the best standalone content play remaining on the market and would not be surprised if a bid emerges before the stand-still expires.”,” the firm’s analyst wrote.

Other equities analysts have also recently issued research reports about the stock. Barrington Research reaffirmed a buy rating and set a $71.00 price objective on shares of CBS in a research report on Monday, August 6th. Loop Capital Mk restated a buy rating on shares of CBS in a report on Friday, August 3rd. Royal Bank of Canada set a $63.00 price objective on shares of CBS and gave the company a buy rating in a report on Friday, August 3rd. B. Riley raised their price objective on shares of CBS from $61.00 to $63.00 and gave the company a buy rating in a report on Wednesday, September 26th. Finally, Morgan Stanley restated an equal weight rating and issued a $65.00 price objective on shares of CBS in a report on Monday, October 15th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. CBS has a consensus rating of Buy and a consensus price target of $66.51.

Shares of NYSE:CBS traded down $0.37 during mid-day trading on Friday, reaching $57.55. 1,836,216 shares of the company were exchanged, compared to its average volume of 3,096,869. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.05 and a current ratio of 1.51. The stock has a market capitalization of $21.74 billion, a P/E ratio of 13.74, a PEG ratio of 0.74 and a beta of 1.19. CBS has a 1 year low of $47.54 and a 1 year high of $61.59.

CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.02. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. CBS had a net margin of 9.42% and a return on equity of 86.51%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. Research analysts forecast that CBS will post 5.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 11th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, December 10th. CBS’s payout ratio is currently 17.18%.

In other news, EVP Anthony G. Ambrosio sold 3,449 shares of CBS stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $57.67, for a total value of $198,903.83. Following the sale, the executive vice president now owns 72,702 shares of the company’s stock, valued at $4,192,724.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony G. Ambrosio sold 11,697 shares of CBS stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $57.53, for a total transaction of $672,928.41. Following the completion of the sale, the executive vice president now directly owns 80,950 shares in the company, valued at approximately $4,657,053.50. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock worth $1,117,598 over the last three months. 1.80% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Squar Milner Financial Services LLC acquired a new position in CBS during the second quarter worth about $122,000. Chicago Partners Investment Group LLC raised its position in shares of CBS by 95.1% in the third quarter. Chicago Partners Investment Group LLC now owns 2,257 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 1,100 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of CBS by 3,620.8% in the third quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock valued at $154,000 after buying an additional 2,607 shares during the last quarter. Atria Investments LLC acquired a new position in shares of CBS in the third quarter valued at approximately $202,000. Finally, Trustcore Financial Services LLC raised its position in shares of CBS by 455.0% in the third quarter. Trustcore Financial Services LLC now owns 4,007 shares of the media conglomerate’s stock valued at $230,000 after buying an additional 3,285 shares during the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

About CBS

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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