ISI Group Lowers CBS Price Target to $65.00 (CBS)
Analysts at ISI Group lowered their target price on shares of CBS (NYSE:CBS) from $73.00 to $65.00 in a research report issued to clients and investors on Friday. ISI Group’s target price suggests a potential upside of 9.74% from the company’s current price.
A number of other firms have also recently commented on CBS. Analysts at Nomura reiterated a “buy” rating on shares of CBS in a research note on Friday. They now have a $74.00 price target on the stock, down previously from $78.00. Separately, analysts at RBC Capital raised their price target on shares of CBS from $70.00 to $72.00 in a research note on Friday. They now have a “top pick” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of CBS in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $68.44.
Shares of CBS (NYSE:CBS) opened at 59.23 on Friday. CBS has a one year low of $50.51 and a one year high of $68.10. The stock’s 50-day moving average is $60.13 and its 200-day moving average is $60.94. The company has a market cap of $33.660 billion and a price-to-earnings ratio of 18.40.
CBS (NYSE:CBS) last released its earnings data on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that CBS will post $3.34 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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