CBS Sees Unusually High Options Volume (NYSE:CBS)

CBS Co. (NYSE:CBS) saw some unusual options trading on Thursday. Stock investors bought 25,523 call options on the company. This is an increase of 1,668% compared to the average volume of 1,444 call options.

NYSE:CBS opened at $43.35 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.65 and a debt-to-equity ratio of 2.15. CBS has a 1-year low of $41.38 and a 1-year high of $59.56. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The stock has a fifty day simple moving average of $50.76 and a 200 day simple moving average of $49.70.

CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.03. CBS had a return on equity of 55.03% and a net margin of 20.13%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company posted $1.12 EPS. CBS’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts predict that CBS will post 5.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. CBS’s payout ratio is presently 13.87%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whitener Capital Management Inc. raised its stake in shares of CBS by 57.1% during the 2nd quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of CBS by 2.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 10,074 shares of the media conglomerate’s stock valued at $479,000 after acquiring an additional 228 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of CBS by 70.2% in the 2nd quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock valued at $30,000 after acquiring an additional 245 shares in the last quarter. Shamrock Asset Management LLC raised its stake in shares of CBS by 4.4% in the 2nd quarter. Shamrock Asset Management LLC now owns 6,129 shares of the media conglomerate’s stock valued at $306,000 after acquiring an additional 258 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of CBS by 96.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock valued at $27,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 72.56% of the company’s stock.

A number of research analysts have recently commented on the company. Benchmark lowered their price target on CBS from $71.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday. Loop Capital increased their price target on CBS to $65.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. UBS Group set a $54.00 price target on CBS and gave the company a “hold” rating in a research report on Friday, August 9th. BMO Capital Markets lowered CBS from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $60.00 to $51.00 in a research report on Wednesday. Finally, TheStreet upgraded CBS from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $61.21.

CBS Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.

See Also: Neutral Rating

Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.