CBS (CBS) Price Target Raised to $65.00 at Loop Capital

CBS (NYSE:CBS) had its price target raised by Loop Capital to $65.00 in a report released on Monday, The Fly reports. Loop Capital currently has a buy rating on the media conglomerate’s stock.

Several other analysts have also commented on CBS. Stephens raised CBS from an equal weight rating to an overweight rating and set a $58.00 price objective on the stock in a report on Wednesday, January 2nd. TheStreet lowered CBS from a b- rating to a c+ rating in a report on Monday, December 31st. Moffett Nathanson raised CBS from a neutral rating to a buy rating in a report on Thursday, January 17th. Barrington Research reissued a buy rating and issued a $72.00 price objective on shares of CBS in a report on Monday, February 4th. Finally, BMO Capital Markets reissued a buy rating and issued a $63.00 price objective on shares of CBS in a report on Tuesday, February 5th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. CBS currently has an average rating of Buy and an average price target of $64.63.

Shares of CBS opened at $50.66 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 3.38. CBS has a 12 month low of $41.38 and a 12 month high of $59.59. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.24.

CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, February 14th. The media conglomerate reported $1.50 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.03). CBS had a net margin of 13.50% and a return on equity of 83.61%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts anticipate that CBS will post 5.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, March 8th. CBS’s dividend payout ratio is presently 13.87%.

In related news, Director Gary L. Countryman sold 4,584 shares of CBS stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the transaction, the director now owns 63,454 shares in the company, valued at $3,258,362.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jonathan Anschell sold 20,730 shares of CBS stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $50.11, for a total value of $1,038,780.30. Following the transaction, the executive vice president now owns 23,358 shares in the company, valued at approximately $1,170,469.38. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. lifted its position in CBS by 4.0% during the first quarter. Campbell Newman Asset Management Inc. now owns 5,186 shares of the media conglomerate’s stock worth $246,000 after buying an additional 198 shares in the last quarter. Heritage Trust Co raised its position in CBS by 2.7% in the fourth quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock valued at $454,000 after purchasing an additional 275 shares during the period. Regent Investment Management LLC raised its position in CBS by 2.1% in the fourth quarter. Regent Investment Management LLC now owns 14,437 shares of the media conglomerate’s stock valued at $631,000 after purchasing an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in CBS by 21.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock valued at $77,000 after purchasing an additional 307 shares during the period. Finally, Nuveen Asset Management LLC raised its position in CBS by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock valued at $2,362,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 75.82% of the company’s stock.

CBS Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.

See Also: Producer Price Index (PPI)

The Fly

Analyst Recommendations for CBS (NYSE:CBS)

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