CBS Corporation (CBS) Rating Reiterated by Royal Bank Of Canada

CBS Corporation (NYSE:CBS)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a research report issued on Tuesday. They currently have a $77.00 price objective on the media conglomerate’s stock, up from their prior price objective of $75.00. Royal Bank Of Canada’s target price would indicate a potential upside of 17.20% from the company’s current price.

Several other analysts also recently issued reports on the company. Rosenblatt Securities increased their price target on CBS Corporation to $40.00 and gave the company a “neutral” rating in a report on Monday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a report on Wednesday, June 28th. BidaskClub upgraded CBS Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $71.00 price target on shares of CBS Corporation in a report on Wednesday, June 14th. Finally, Guggenheim reiterated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a report on Friday, April 14th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. CBS Corporation presently has a consensus rating of “Buy” and an average price target of $72.25.

CBS Corporation (NYSE CBS) traded up 1.83% on Tuesday, reaching $65.70. The company had a trading volume of 4,540,481 shares. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The stock’s 50-day moving average price is $64.27 and its 200 day moving average price is $64.86. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 53.59 and a beta of 1.71.

CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 41.55% and a net margin of 3.96%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that CBS Corporation will post $4.44 earnings per share for the current fiscal year.

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In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total value of $344,658.00. Following the transaction, the executive vice president now owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The disclosure for this sale can be found here. Insiders sold 218,707 shares of company stock worth $13,961,251 in the last three months. 2.03% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the company. Dupont Capital Management Corp acquired a new position in shares of CBS Corporation during the second quarter valued at about $102,000. Israel Discount Bank of New York purchased a new position in shares of CBS Corporation during the first quarter worth $114,000. Parallel Advisors LLC raised its position in shares of CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after buying an additional 532 shares in the last quarter. Ruggie Capital Group purchased a new position in shares of CBS Corporation during the first quarter worth $120,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of CBS Corporation during the first quarter worth $157,000. 75.42% of the stock is currently owned by hedge funds and other institutional investors.

About CBS Corporation

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

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