CBS Price Target Increased to $72.00 by Analysts at RBC Capital (CBS)
Analysts at RBC Capital upped their price objective on shares of CBS (NYSE:CBS) from $70.00 to $72.00 in a research report issued to clients and investors on Friday. The firm currently has a “top pick” rating on the stock. RBC Capital’s price objective points to a potential upside of 26.54% from the stock’s previous close.
CBS (NYSE:CBS) traded up 4.15% during mid-day trading on Friday, hitting $59.26. The stock had a trading volume of 8,970,919 shares. CBS has a 1-year low of $50.51 and a 1-year high of $68.10. The stock’s 50-day moving average is $60.16 and its 200-day moving average is $60.95. The company has a market cap of $33.677 billion and a P/E ratio of 18.40.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.06. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company posted $0.76 earnings per share. CBS’s revenue was down 5.4% compared to the same quarter last year. Analysts expect that CBS will post $3.34 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CBS. Analysts at Morgan Stanley initiated coverage on shares of CBS in a research note on Wednesday, July 30th. Separately, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of CBS in a research note on Wednesday, July 23rd. Finally, 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. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $67.99.
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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