CBS (NYSE:CBS)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research report issued to clients and investors on Tuesday, January 16th. They currently have a $78.00 price objective on the media conglomerate’s stock. Benchmark’s target price would indicate a potential upside of 47.84% from the stock’s previous close.
A number of other research firms have also recently weighed in on CBS. Piper Jaffray Companies set a $70.00 price objective on shares of CBS and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Wells Fargo & Co reiterated an “outperform” rating and set a $70.00 price objective (down previously from $75.00) on shares of CBS in a research report on Thursday, January 4th. Cowen reiterated a “buy” rating on shares of CBS in a research report on Thursday, September 21st. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 price objective on shares of CBS in a research report on Wednesday, September 20th. Finally, ValuEngine cut shares of CBS from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $70.96.
CBS (CBS) traded up $0.96 during mid-day trading on Tuesday, reaching $52.76. 4,504,251 shares of the company’s stock were exchanged, compared to its average volume of 4,550,000. 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 has a fifty-two week low of $50.63 and a fifty-two week high of $70.10. The company has a market capitalization of $21,120.00, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.79 and a beta of 1.50.
In other CBS news, Director Arnold Kopelson sold 5,093 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leslie Moonves sold 85,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total transaction of $4,917,250.00. Following the sale, the chief executive officer now directly owns 884,513 shares of the company’s stock, valued at $51,169,077.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,377 shares of company stock worth $13,319,103. 1.67% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Lourd Capital LLC purchased a new stake in shares of CBS during the fourth quarter valued at about $249,000. Griffin Asset Management Inc. purchased a new stake in shares of CBS during the second quarter valued at about $340,000. Intellectus Partners LLC lifted its position in shares of CBS by 8.4% during the second quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock valued at $422,000 after buying an additional 509 shares during the last quarter. Green Square Capital LLC lifted its position in shares of CBS by 18.4% during the second quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock valued at $473,000 after buying an additional 1,150 shares during the last quarter. Finally, Wealthstreet Investment Advisors LLC purchased a new stake in shares of CBS during the fourth quarter valued at about $437,000. 75.10% of the stock is owned by institutional investors and hedge funds.
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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