CBS Corporation (CBS) was Initiated by Drexel Hamilton to “Buy”. Drexel Hamilton advised their investors in a research report released on Sep 6, 2016.
Many Wall Street Analysts have commented on CBS Corporation. UBS Downgraded CBS Corporation on Jul 15, 2016 to ” Sell”, Price Target of the shares are set at $52.
On the company’s financial health, CBS Corporation reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.86. The company had revenue of $3287.00 million for the quarter, compared to analysts expectations of $3214.26 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
CBS Corporation opened for trading at $51.15 and hit $52.07 on the upside on Thursday, eventually ending the session at $52.04, with a gain of 1.98% or 1.01 points. The heightened volatility saw the trading volume jump to 42,10,837 shares. Company has a market cap of $23,137 M.
Investors should note that on Jul 28, 2016, CBS Corporation announced a cash dividend of $0.1800. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 1, 2016.
In a different news, on Aug 23, 2016, Leonard Goldberg (director) sold 1,698 shares at $51.77 per share price. According to the SEC, on Aug 5, 2016, Joseph A Califano (director) sold 5,093 shares at $52.26 per share price. On Jun 30, 2016, Anthony G Ambrosio (Sr.EVP Chief Admin & HR Ofcr) sold 8,500 shares at $52.76 per share price, according to the Form-4 filing with the securities and exchange commission.
CBS Corporation is a mass media company. The Company operates through segments including Entertainment Cable Networks Publishing and Local Broadcasting. The Entertainment segment is composed of the CBS Television Network CBS Television Studios CBS Global Distribution Group CBS Interactive and CBS Films. The Cable Networks segment is composed of Showtime Networks which operates program services such as Showtime The Movie Channel and Flix; CBS Sports Network and Smithsonian Networks which operates a program service Smithsonian Channel. The Publishing segment is composed of Simon & Schuster which publishes and distributes consumer books under imprints such as Simon & Schuster Pocket Books Scribner and Atria Books. The Local Broadcasting segment is composed of CBS Television Stations the Company’s 30 owned broadcast television stations and CBS Radio through which the Company owns and operates 117 radio stations in 26 United States markets.