CBS (CBS) Receives Outperform Rating from Wells Fargo & Co

Wells Fargo & Co reissued their outperform rating on shares of CBS (NYSE:CBS) in a report released on Thursday morning. Wells Fargo & Co currently has a $70.00 price objective on the media conglomerate’s stock, down from their prior price objective of $75.00.

A number of other research firms also recently commented on CBS. Piper Jaffray Companies set a $70.00 target price on shares of CBS and gave the company a buy rating in a research report on Wednesday. Cowen reaffirmed a buy rating on shares of CBS in a research report on Thursday, September 21st. Rosenblatt Securities reaffirmed a buy rating and issued a $80.00 target price on shares of CBS in a research report on Wednesday, September 20th. ValuEngine downgraded shares of CBS from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, Macquarie downgraded shares of CBS from an outperform rating to a neutral rating and set a $60.00 target price on the stock. in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. CBS presently has a consensus rating of Buy and an average target price of $72.26.

Shares of CBS (NYSE CBS) traded down $1.20 on Thursday, hitting $58.00. 6,646,200 shares of the stock were exchanged, compared to its average volume of 4,263,333. CBS has a fifty-two week low of $52.75 and a fifty-two week high of $70.10. The firm has a market cap of $23,110.00, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.62. 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 (NYSE:CBS) last posted its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.26 billion. CBS had a net margin of 2.14% and a return on equity of 58.49%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. equities research analysts expect that CBS will post 4.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Monday, December 11th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, December 8th. CBS’s dividend payout ratio (DPR) is 20.93%.

In other CBS news, Director Bruce S. Gordon sold 5,093 shares of CBS stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $55.50, for a total transaction of $282,661.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Leslie Moonves sold 150,000 shares of CBS stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $57.62, for a total transaction of $8,643,000.00. Following the transaction, the chief executive officer now owns 1,182,652 shares of the company’s stock, valued at approximately $68,144,408.24. The disclosure for this sale can be found here. Insiders sold 250,279 shares of company stock valued at $14,437,978 in the last quarter. Company insiders own 1.67% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Griffin Asset Management Inc. acquired a new position in CBS during the second quarter worth about $340,000. Intellectus Partners LLC raised its position in CBS by 8.4% during the second quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock worth $422,000 after acquiring an additional 509 shares during the last quarter. Green Square Capital LLC raised its position in CBS by 18.4% during the second quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock worth $473,000 after acquiring an additional 1,150 shares during the last quarter. Baltimore Capital Management Inc. acquired a new position in CBS during the third quarter worth about $570,000. Finally, Murphy Capital Management Inc. raised its position in CBS by 40.2% during the third quarter. Murphy Capital Management Inc. now owns 10,435 shares of the media conglomerate’s stock worth $605,000 after acquiring an additional 2,990 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

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About CBS

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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