CBS (CBS) Downgraded by Atlantic Securities

Atlantic Securities cut shares of CBS (NYSE:CBS) from an overweight rating to a neutral rating in a research report released on Monday morning, MarketBeat reports. They currently have $56.00 target price on the media conglomerate’s stock.

CBS has been the subject of several other reports. Goldman Sachs Group initiated coverage on CBS in a report on Thursday, November 29th. They set a neutral rating and a $59.00 price objective for the company. Royal Bank of Canada boosted their price objective on CBS to $70.00 and gave the stock a positive rating in a report on Friday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research raised CBS from a sell rating to a hold rating in a report on Friday, October 26th. Morgan Stanley reissued an equal weight rating and set a $65.00 price objective on shares of CBS in a report on Monday, October 15th. Finally, Imperial Capital boosted their price objective on CBS from $71.00 to $76.00 and gave the stock an outperform rating in a report on Friday, November 2nd. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $64.32.

Shares of NYSE:CBS opened at $48.43 on Monday. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.59 and a beta of 1.32. CBS has a 1-year low of $41.38 and a 1-year high of $59.59. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.51 and a quick ratio of 1.05.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.49%. CBS’s dividend payout ratio (DPR) is presently 17.18%.

Hedge funds have recently made changes to their positions in the company. Retirement Systems of Alabama increased its stake in CBS by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 268,464 shares of the media conglomerate’s stock worth $15,423,000 after purchasing an additional 2,712 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in CBS by 3,620.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock worth $154,000 after purchasing an additional 2,607 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in CBS by 43.5% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 422,194 shares of the media conglomerate’s stock worth $18,458,000 after purchasing an additional 127,925 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in CBS during the 4th quarter worth approximately $599,000. Finally, Steward Partners Investment Advisory LLC increased its stake in CBS by 9.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 28,104 shares of the media conglomerate’s stock worth $1,228,000 after purchasing an additional 2,422 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

CBS Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates through 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, acquires, and distributes theatrical motion pictures; and digital streaming services.

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