Citigroup Lowers CBS (NYSE:CBS) Price Target to $57.00

CBS (NYSE:CBS) had its price target lowered by Citigroup from $60.00 to $57.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the media conglomerate’s stock.

Several other research analysts have also recently issued reports on CBS. Stephens set a $64.00 price target on CBS and gave the stock a buy rating in a research note on Friday, August 9th. Barrington Research cut their price objective on CBS from $72.00 to $60.00 and set an outperform rating for the company in a report on Monday, May 6th. UBS Group set a $54.00 price objective on CBS and gave the company a hold rating in a report on Friday, August 9th. Imperial Capital cut their price objective on CBS from $72.00 to $62.00 and set an outperform rating for the company in a report on Tuesday, August 13th. Finally, Sanford C. Bernstein lowered CBS from a market perform rating to an underperform rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. CBS currently has an average rating of Hold and a consensus price target of $61.21.

NYSE:CBS opened at $43.80 on Wednesday. CBS has a 1 year low of $41.38 and a 1 year high of $59.56. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.67 and a beta of 1.17. The business has a fifty day moving average of $50.66 and a 200-day moving average of $49.67. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.16 and a current ratio of 1.65.



CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. CBS had a return on equity of 55.03% and a net margin of 20.13%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that CBS will post 5.52 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, September 9th. CBS’s dividend payout ratio is 13.87%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allstate Corp lifted its holdings in shares of CBS by 61.2% during the first quarter. Allstate Corp now owns 10,904 shares of the media conglomerate’s stock valued at $518,000 after purchasing an additional 4,141 shares during the last quarter. Tech Square Trading LP purchased a new stake in shares of CBS during the first quarter valued at $299,000. Greenwood Capital Associates LLC purchased a new stake in shares of CBS during the first quarter valued at $243,000. Oppenheimer & Co. Inc. lifted its holdings in shares of CBS by 18.9% during the first quarter. Oppenheimer & Co. Inc. now owns 39,288 shares of the media conglomerate’s stock valued at $1,867,000 after purchasing an additional 6,255 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in CBS by 35.1% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,779,282 shares of the media conglomerate’s stock worth $84,569,000 after acquiring an additional 462,110 shares in the last quarter. 72.56% of the stock is owned by institutional investors and hedge funds.

CBS Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.

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