CBS Corp. shares were up again in late trading on Wall Street Friday as investors reacted positively to reports disseminated Thursday that the company’s Board of Directors is pitching an exit package to embattled CEO Les Moonves.
At the Closing Bell, CBS shares were up 3% to $56.06.
That’s the highest closing price for CBS since July 26, and again puts the company’s stock back on track toward a 1-year target estimate of $64.58, which analysts expect CBS shares to be at come Dec. 31.
Volume was exceptionally high at 6.7 million shares; average volume is 3.33 million shares.
The gains come as CBS shares on Friday (9/7) went ex-Dividend.
The forward dividend is 0.72; the yield is 1.37%.
How did other media companies finish the week? Look at the Wall Street Report on the homepage of RBR.com for more.