Short Interest in CBS Rises By 250.4% (CBS)
CBS (NYSE:CBS) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 35,470,479 shares, a growth of 250.4% from the June 13th total of 10,124,148 shares, Stock Ratings Network reports. Currently, 6.8% of the company’s shares are short sold. Based on an average daily trading volume, of 12,431,522 shares, the days-to-cover ratio is currently 2.9 days.
In other CBS news, EVP Gil D. Schwartz sold 7,188 shares of the stock on the open market in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $59.88, for a total transaction of $430,417.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CBS has been the subject of a number of recent research reports. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of CBS in a research note on Tuesday, July 15th. They now have a $70.00 price target on the stock. Separately, analysts at Barclays initiated coverage on shares of CBS in a research note on Wednesday, July 9th. They set an “equal weight” rating and a $68.00 price target on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of CBS in a research note on Wednesday, June 25th. They set a “buy” rating and a $58.84 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. CBS currently has a consensus rating of “Buy” and an average target price of $67.29.
Shares of CBS (NYSE:CBS) opened at 60.43 on Tuesday. CBS has a 52-week low of $50.51 and a 52-week high of $68.10. The stock has a 50-day moving average of $61.23 and a 200-day moving average of $61.35. The company has a market cap of $34.342 billion and a P/E ratio of 19.89.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.73 earnings per share. CBS’s revenue was down 4.6% compared to the same quarter last year. On average, analysts predict that CBS will post $3.43 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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