CBS Corporation (CBS) Director Sells $291,981.69 in Stock

CBS Corporation (NYSE:CBS) Director Charles K. Gifford sold 5,093 shares of CBS Corporation stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.33, for a total value of $291,981.69. Following the sale, the director now directly owns 70,273 shares of the company’s stock, valued at $4,028,751.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

CBS Corporation (CBS) traded up $0.50 during midday trading on Thursday, hitting $56.54. The company’s stock had a trading volume of 1,367,127 shares, compared to its average volume of 3,799,597. CBS Corporation has a 1 year low of $52.75 and a 1 year high of $70.10. The company has a market cap of $22,430.00, a price-to-earnings ratio of 13.12, a PEG ratio of 1.02 and a beta of 1.62. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10.

CBS Corporation (NYSE:CBS) last released its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. CBS Corporation had a return on equity of 58.49% and a net margin of 2.14%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue was up 2.8% on a year-over-year basis. analysts forecast that CBS Corporation will post 4.39 earnings per share for the current year.

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CBS has been the subject of several research reports. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Benchmark Co. lifted their price target on CBS Corporation from $76.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a report on Tuesday, August 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $77.00 price target (up from $75.00) on shares of CBS Corporation in a report on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $73.33.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dupont Capital Management Corp bought a new stake in shares of CBS Corporation in the 2nd quarter valued at about $102,000. Parallel Advisors LLC lifted its stake in shares of CBS Corporation by 42.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after purchasing an additional 532 shares during the period. Tocqueville Asset Management L.P. acquired a new position in shares of CBS Corporation in the 2nd quarter valued at about $205,000. Bridgewater Wealth & Financial Management LLC lifted its stake in shares of CBS Corporation by 12.3% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after purchasing an additional 374 shares during the period. Finally, Palladium Partners LLC lifted its stake in shares of CBS Corporation by 6.8% in the 2nd quarter. Palladium Partners LLC now owns 3,757 shares of the media conglomerate’s stock valued at $240,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 74.57% of the company’s stock.

CBS Corporation Company Profile

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.

Insider Buying and Selling by Quarter for CBS Corporation (NYSE:CBS)

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