CBS PT Lowered to $69.00 (CBS)
Investment analysts at Evercore Partners decreased their price target on shares of CBS (NYSE:CBS) from $70.00 to $69.00 in a note issued to investors on Friday, AnalystRatings.NET reports. Evercore Partners’ price objective would suggest a potential upside of 18.95% from the stock’s previous close.
A number of other firms have also recently commented on CBS. Analysts at Topeka Capital Markets cut their price target on shares of CBS from $71.00 to $70.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of CBS in a research note on Wednesday, April 9th. They set an “overweight” rating on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of CBS from $70.00 to $83.00 in a research note on Monday, March 17th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. CBS presently has an average rating of “Buy” and an average price target of $66.47.
CBS (NYSE:CBS) traded down 3.48% on Friday, hitting $55.99. The stock had a trading volume of 4,774,184 shares. CBS has a 52 week low of $45.61 and a 52 week high of $68.10. The stock has a 50-day moving average of $60.25 and a 200-day moving average of $61.06. The company has a market cap of $33.223 billion and a price-to-earnings ratio of 19.27. CBS also was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 11,615,763 shares, a drop of 32.9% from the March 31st total of 17,300,492 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily volume of 8,118,499 shares, the short-interest ratio is presently 1.4 days.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.03. The company had revenue of $3.86 million for the quarter, compared to the consensus estimate of $4.04 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts predict that CBS will post $3.47 earnings per share for the current fiscal year.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
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