Brokerages Set CBS Co. (NYSE:CBS) PT at $51.94

CBS Co. (NYSE:CBS) has been given a consensus rating of “Hold” by the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $51.94.

A number of research analysts have weighed in on CBS shares. Sanford C. Bernstein cut their price objective on shares of CBS from $46.00 to $35.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 3rd. Loop Capital cut their price target on shares of CBS to $50.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Imperial Capital cut their price target on shares of CBS from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. BMO Capital Markets lowered shares of CBS from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $60.00 to $51.00 in a research report on Wednesday, August 14th. Finally, ValuEngine raised shares of CBS from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd.

NYSE CBS remained flat at $$40.68 during trading on Monday. The stock has a market capitalization of $15.24 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. The firm’s fifty day moving average price is $38.50 and its 200-day moving average price is $44.16. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.05 and a current ratio of 1.52. CBS has a 12 month low of $35.02 and a 12 month high of $53.71.

CBS (NYSE:CBS) last released its quarterly earnings results on Tuesday, November 12th. The media conglomerate reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. CBS had a return on equity of 44.13% and a net margin of 18.98%. The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter last year, the business posted $1.24 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts predict that CBS will post 4.96 EPS for the current fiscal year.

In related news, Director Gary L. Countryman sold 5,093 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.89, for a total value of $198,066.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its holdings in CBS by 5,546.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,295,299 shares of the media conglomerate’s stock worth $164,435,000 after purchasing an additional 3,236,938 shares during the period. Baupost Group LLC MA grew its position in shares of CBS by 17.1% during the 2nd quarter. Baupost Group LLC MA now owns 10,000,000 shares of the media conglomerate’s stock worth $499,000,000 after buying an additional 1,457,984 shares in the last quarter. Holocene Advisors LP bought a new position in shares of CBS during the 2nd quarter worth $62,339,000. Victory Capital Management Inc. increased its stake in shares of CBS by 27.3% during the second quarter. Victory Capital Management Inc. now owns 4,267,052 shares of the media conglomerate’s stock valued at $212,927,000 after buying an additional 916,183 shares during the period. Finally, Balyasny Asset Management LLC increased its stake in shares of CBS by 399.3% during the second quarter. Balyasny Asset Management LLC now owns 867,961 shares of the media conglomerate’s stock valued at $43,311,000 after buying an additional 694,137 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

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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