CBS Short Interest Down 32.9% in April (CBS)
Shares of CBS (NYSE:CBS) were the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 11,615,763 shares, a decline of 32.9% from the March 31st total of 17,300,492 shares, American Banking News.com reports. Based on an average daily volume of 8,118,499 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.1% of the shares of the company are short sold.
A number of research firms have recently commented on CBS. 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. Separately, 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. Finally, analysts at Zacks reiterated a “neutral” rating on shares of CBS in a research note on Wednesday, March 5th. They now have a $71.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.21.
Shares of CBS (NYSE:CBS) opened at 58.01 on Friday. 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 $34.422 billion and a price-to-earnings ratio of 18.82.
CBS (NYSE:CBS) last posted its quarterly earnings results 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. Analysts expect that CBS will post $3.47 EPS 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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