CBS Now Covered by Analysts at Morgan Stanley (CBS)
Shares of CBS (NYSE:CBS) traded up 0.40% during mid-day trading on Wednesday, hitting $57.71. The stock had a trading volume of 7,126,052 shares. 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 $60.79 and a 200-day moving average of $61.11. The company has a market cap of $32.796 billion and a P/E ratio of 18.59. CBS also was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 110,555,774 shares, an increase of 211.7% from the June 30th total of 35,470,479 shares. Based on an average trading volume of 38,743,131 shares, the short-interest ratio is currently 2.9 days. Approximately 21.3% of the company’s shares are short sold.
CBS (NYSE:CBS) last released its 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 $3.38 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets reiterated an “outperform” rating on shares of CBS in a research note on Wednesday, July 23rd. Separately, 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $66.79.
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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