CBS Corporation (CBS) Rating Reiterated by Rosenblatt Securities

CBS Corporation (NYSE:CBS)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research note issued to investors on Wednesday. They presently have a $80.00 target price on the media conglomerate’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 36.08% from the company’s current price.

A number of other equities research analysts have also commented on the company. BMO Capital Markets restated a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research report on Tuesday, August 8th. BidaskClub upgraded CBS Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and set a $73.00 price target (up from $71.00) on shares of CBS Corporation in a research report on Wednesday, August 9th. Argus restated a “buy” rating and set a $79.00 price target (up from $71.00) on shares of CBS Corporation in a research report on Thursday, August 10th. Finally, Citigroup Inc. restated a “buy” rating and set a $76.00 price target (up from $75.00) on shares of CBS Corporation in a research report on Wednesday, August 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. CBS Corporation has a consensus rating of “Buy” and a consensus price target of $74.98.

CBS Corporation (NYSE:CBS) opened at 58.79 on Wednesday. The firm’s 50-day moving average price is $63.34 and its 200-day moving average price is $64.46. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 149.59 and a beta of 1.70. CBS Corporation has a 12 month low of $48.88 and a 12 month high of $70.10.

CBS Corporation (NYSE:CBS) last issued its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm posted $0.93 EPS. CBS Corporation’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that CBS Corporation will post $4.46 earnings per share for the current year.

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In related news, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the sale, the executive vice president now owns 60,322 shares of the company’s stock, valued at approximately $3,865,433.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gil D. Schwartz sold 54,131 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.40, for a total value of $3,161,250.40. Following the sale, the executive vice president now directly owns 102,483 shares in the company, valued at approximately $5,985,007.20. The disclosure for this sale can be found here. Insiders have sold a total of 431,005 shares of company stock worth $27,363,197 in the last ninety days. 1.67% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in CBS Corporation by 42.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after buying an additional 532 shares during the period. Regent Investment Management LLC raised its stake in CBS Corporation by 5.0% during the 2nd quarter. Regent Investment Management LLC now owns 6,352 shares of the media conglomerate’s stock worth $405,000 after buying an additional 300 shares during the period. Israel Discount Bank of New York acquired a new stake in CBS Corporation during the 1st quarter worth $114,000. Sit Investment Associates Inc. raised its stake in CBS Corporation by 15.2% during the 2nd quarter. Sit Investment Associates Inc. now owns 369,485 shares of the media conglomerate’s stock worth $23,566,000 after buying an additional 48,800 shares during the period. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO raised its stake in CBS Corporation by 38.5% during the 2nd quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 26,039 shares of the media conglomerate’s stock worth $1,661,000 after buying an additional 7,239 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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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