CBS Corporation (NYSE:CBS) Director Charles K. Gifford sold 5,093 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $57.33, for a total value of $291,981.69. Following the completion of the sale, the director now owns 70,273 shares of the company’s stock, valued at $4,028,751.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
CBS Corporation (CBS) opened at $56.41 on Wednesday. CBS Corporation has a 1-year low of $52.75 and a 1-year high of $70.10. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03. The firm has a market capitalization of $22,377.95, a PE ratio of 13.01, a PEG ratio of 1.01 and a beta of 1.62.
CBS Corporation (NYSE:CBS) last released its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. CBS Corporation had a return on equity of 58.49% and a net margin of 2.14%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the business posted $1.05 EPS. CBS Corporation’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts forecast that CBS Corporation will post 4.39 earnings per share for the current fiscal year.
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A number of analysts have recently weighed in on the company. BidaskClub upgraded CBS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Barclays PLC set a $57.00 target price on CBS Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. Argus restated a “buy” rating and issued a $79.00 target price (up from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $77.00 target price (up from $75.00) on shares of CBS Corporation in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.33.
Large investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp bought a new position in shares of CBS Corporation during the 2nd quarter valued at about $102,000. Parallel Advisors LLC lifted its stake in CBS Corporation by 42.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after acquiring an additional 532 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in CBS Corporation in the 2nd quarter valued at approximately $205,000. Bridgewater Wealth & Financial Management LLC lifted its stake in CBS Corporation by 12.3% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after acquiring an additional 374 shares in the last quarter. Finally, Palladium Partners LLC lifted its stake in CBS Corporation by 6.8% in the 2nd quarter. Palladium Partners LLC now owns 3,757 shares of the media conglomerate’s stock valued at $240,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 74.57% of the company’s stock.
About CBS Corporation
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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