CBS Corporation (CBS) Price Target Increased to $70.00 by Analysts at Instinet

CBS Corporation (NYSE:CBS) had its target price boosted by Instinet to $70.00 in a research report released on Monday morning.

CBS has been the topic of a number of other reports. Wells Fargo & Company reaffirmed an outperform rating and issued a $65.00 price target on shares of CBS Corporation in a research note on Wednesday, November 2nd. Benchmark Co. reaffirmed a buy rating and issued a $74.00 price target (up from $67.00) on shares of CBS Corporation in a research note on Friday, January 13th. J P Morgan Chase & Co reaffirmed a buy rating and issued a $69.00 price target on shares of CBS Corporation in a research note on Friday, November 4th. Telsey Advisory Group lifted their price target on CBS Corporation from $57.00 to $66.00 and gave the stock a market perform rating in a research note on Tuesday, December 13th. Finally, Loop Capital reaffirmed a buy rating and issued a $77.00 price target (up from $67.00) on shares of CBS Corporation in a research note on Sunday, January 8th. Six investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $67.55.

Analyst Recommendations for CBS Corporation (NYSE:CBS)

CBS Corporation (NYSE:CBS) traded up 0.054% during trading on Monday, reaching $65.335. 390,219 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $63.93 and its 200-day moving average price is $57.88. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 18.347 and a beta of 1.66. CBS Corporation has a 12 month low of $42.52 and a 12 month high of $66.88.

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The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, March 8th. CBS Corporation’s dividend payout ratio (DPR) is 20.17%.

Several institutional investors have recently added to or reduced their stakes in the company. Numeric Investors LLC raised its position in shares of CBS Corporation by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock worth $64,442,000 after buying an additional 1,177,318 shares during the last quarter. Capital World Investors raised its position in shares of CBS Corporation by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock worth $1,816,267,000 after buying an additional 612,557 shares during the last quarter. Arrowgrass Capital Partners US LP purchased a new position in shares of CBS Corporation during the third quarter worth approximately $29,834,000. Principal Financial Group Inc. raised its position in shares of CBS Corporation by 75.4% in the third quarter. Principal Financial Group Inc. now owns 1,098,366 shares of the media conglomerate’s stock worth $60,124,000 after buying an additional 472,060 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of CBS Corporation by 264.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 592,450 shares of the media conglomerate’s stock worth $32,431,000 after buying an additional 429,969 shares during the last quarter. 78.18% of the stock is owned by hedge funds and other institutional investors.

About CBS Corporation

CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.

5 Day Chart for NYSE:CBS

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