Nomura Reiterates “Buy” Rating for CBS (CBS)
CBS (NYSE:CBS)‘s stock had its “buy” rating reiterated by analysts at Nomura in a research report issued to clients and investors on Friday. They currently have a $74.00 price objective on the stock, down from their previous price objective of $78.00. Nomura’s price target would indicate a potential upside of 24.94% from the stock’s previous close.
Shares of CBS (NYSE:CBS) opened at 59.23 on Friday. CBS has a 52 week low of $50.51 and a 52 week 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 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. On average, analysts predict that CBS will post $3.34 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Morgan Stanley initiated coverage on shares of CBS in a research note on Wednesday, July 30th. Finally, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of CBS in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, eleven 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 an average target price of $68.44.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.