Piper Jaffray reissued their overweight rating on shares of CBS (NYSE: CBS) in a report released on Friday. Piper Jaffray currently has a $47.00 target price on the stock, up from their previous target price of $45.00.
“4Q OIBDA of $866M was largely in line with our forecast of $871M (consensus was $930M). A few one-time items, including a tax settlement in Outdoor and higher corporate pinched EPS. Ad commentary remained positive as network scatter pricing remains in the ‘teens’. Management discussed a strong outlook for 2013, highlighting a robust syndicated market, lack of pre-empted political programming (17 hours of prime time), strong positioning for the upfront, new retrans/reverse comp deals, and new digital opportunities. CBS continues to aggressively return capital announcing another $1B accelerated share repurchase on top of an existing authorization of $1.2B. The eventual spin-off/sale of the outdoor business should provide even more capital to return to shareholders. The one-time items might weaken the stock at the open but we would be buyers as the rest of the year looks encouraging.,” Piper Jaffray’s analyst wrote.
A number of other analysts have also recently weighed in on CBS. Analysts at Barclays Capital raised their price target on shares of CBS from $46.00 to $47.00 in a research note to investors on Friday. They now have an overweight rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of CBS from $45.00 to $49.00 in a research note to investors on Friday. They now have a top pick rating on the stock. Finally, analysts at Wedbush reiterated an in-line rating on shares of CBS in a research note to investors on Friday. They now have a $50.00 price target on the stock.
Twenty-one analysts have rated the stock with a buy rating, and eight have assigned a hold rating to the stock. The stock presently has a consensus rating of overweight and a consensus price target of $48.17.
Shares of CBS traded up 0.54% during mid-day trading on Friday, hitting $44.88. CBS has a 52 week low of $28.85 and a 52 week high of $45.87. The stock’s 50-day moving average is currently $41.04. The company has a market cap of $28.454 billion and a P/E ratio of 18.69.
The company also recently announced a quarterly dividend, which is scheduled for Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, March 7th.
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