CBS Corporation (NYSE:CBS) Director Arnold Kopelson sold 5,093 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $59.51, for a total transaction of $303,084.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
CBS Corporation (NYSE:CBS) traded up $0.27 during midday trading on Friday, reaching $57.47. 2,519,800 shares of the company’s stock were exchanged, compared to its average volume of 4,167,837. CBS Corporation has a 12 month low of $52.75 and a 12 month high of $70.10. The company has a market cap of $22,910.00, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.03 and a beta of 1.62. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.10 and a current ratio of 1.55.
CBS (NYSE:CBS) last released its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. CBS had a net margin of 2.14% and a return on equity of 58.49%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $1.05 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. sell-side analysts predict that CBS Corporation will post 4.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Monday, December 11th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, December 8th. CBS’s payout ratio is 20.93%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Sound Shore Management Inc. CT raised its stake in CBS by 32.8% during the 3rd quarter. Sound Shore Management Inc. CT now owns 2,440,353 shares of the media conglomerate’s stock worth $141,540,000 after acquiring an additional 603,157 shares during the period. Focused Investors LLC raised its stake in CBS by 43.0% during the 3rd quarter. Focused Investors LLC now owns 1,624,900 shares of the media conglomerate’s stock worth $94,244,000 after acquiring an additional 488,700 shares during the period. PGGM Investments raised its stake in CBS by 136.1% during the 3rd quarter. PGGM Investments now owns 579,591 shares of the media conglomerate’s stock worth $33,616,000 after acquiring an additional 334,076 shares during the period. Canada Pension Plan Investment Board raised its stake in CBS by 59.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 498,300 shares of the media conglomerate’s stock worth $31,782,000 after acquiring an additional 186,527 shares during the period. Finally, Eaton Vance Management raised its stake in CBS by 27.8% during the 2nd quarter. Eaton Vance Management now owns 734,531 shares of the media conglomerate’s stock worth $46,848,000 after acquiring an additional 159,924 shares during the period. Institutional investors own 74.83% of the company’s stock.
A number of analysts have recently issued reports on the stock. Barclays set a $57.00 price target on shares of CBS and gave the company a “hold” rating in a report on Friday, August 11th. Argus reaffirmed a “buy” rating and set a $79.00 price target (up previously from $71.00) on shares of CBS in a report on Thursday, August 10th. Citigroup reaffirmed a “buy” rating and set a $76.00 price target (up previously from $75.00) on shares of CBS in a report on Wednesday, August 23rd. Loop Capital reaffirmed a “buy” rating and set a $78.00 price target on shares of CBS in a report on Sunday, August 20th. Finally, Cowen reaffirmed a “buy” rating on shares of CBS in a report on Thursday, September 21st. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CBS currently has an average rating of “Buy” and a consensus target price of $73.13.
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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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