Traders bought shares of CBS Corporation (NYSE:CBS) on weakness during trading on Friday. $65.14 million flowed into the stock on the tick-up and $45.60 million flowed out of the stock on the tick-down, for a money net flow of $19.54 million into the stock. Of all stocks tracked, CBS Corporation had the 26th highest net in-flow for the day. CBS Corporation traded down ($1.08) for the day and closed at $59.42
A number of brokerages have recently commented on CBS. Royal Bank Of Canada set a $75.00 target price on CBS Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Cowen and Company reiterated an “outperform” rating and set a $70.00 price target on shares of CBS Corporation in a research report on Monday, May 15th. BidaskClub upgraded CBS Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and set a $71.00 price target on shares of CBS Corporation in a research report on Wednesday, June 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research report on Wednesday, June 28th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $73.44.
The company’s 50 day moving average is $64.92 and its 200-day moving average is $64.91. The company has a market capitalization of $23.87 billion, a PE ratio of 151.20 and a beta of 1.70.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the company earned $0.93 EPS. CBS Corporation’s revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that CBS Corporation will post $4.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is currently 211.76%.
In other CBS Corporation news, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total value of $9,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,182,652 shares in the company, valued at approximately $76,493,931.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.96, for a total value of $538,695.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,874 shares of company stock worth $24,201,946. 1.67% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CBS. Focused Investors LLC acquired a new position in CBS Corporation in the 2nd quarter valued at $72,467,000. Scopus Asset Management L.P. raised its holdings in CBS Corporation by 166.7% in the 1st quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock valued at $93,636,000 after acquiring an additional 843,900 shares during the last quarter. FMR LLC raised its holdings in CBS Corporation by 21.2% in the 1st quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock valued at $244,860,000 after acquiring an additional 618,593 shares during the last quarter. BlueCrest Capital Management Ltd raised its holdings in CBS Corporation by 957.7% in the 1st quarter. BlueCrest Capital Management Ltd now owns 431,485 shares of the media conglomerate’s stock valued at $29,928,000 after acquiring an additional 390,689 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in CBS Corporation in the 1st quarter valued at $26,684,000. Institutional investors own 75.09% of the company’s stock.
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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.
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