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.
WARNING: This news story was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.themarketsdaily.com/2017/08/08/cbs-corporation-cbs-rating-reiterated-by-royal-bank-of-canada.html.
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.
Receive News & Ratings for CBS Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corporation and related companies with MarketBeat.com's FREE daily email newsletter.