CBS Sees Large Drop in Short Interest (CBS)
CBS (NYSE:CBS) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 21,719,474 shares, a decline of 80.4% from the July 15th total of 110,555,774 shares, AnalystRatings.Net reports. Currently, 4.6% of the shares of the company are sold short. Based on an average daily volume of 13,755,423 shares, the short-interest ratio is currently 1.6 days.
In other CBS news, CEO Leslie Moonves sold 93,750 shares of CBS stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $59.36, for a total value of $5,565,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
CBS has been the subject of a number of recent research reports. Analysts at Pivotal Research raised their price target on shares of CBS from $67.00 to $70.00 in a research note on Friday, August 8th. Separately, analysts at ISI Group cut their price target on shares of CBS from $73.00 to $65.00 in a research note on Friday, August 8th. Finally, analysts at Nomura reiterated a “buy” rating on shares of CBS in a research note on Friday, August 8th. They now have a $74.00 price target on the stock, down previously from $78.00. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $68.44.
Shares of CBS (NYSE:CBS) opened at 59.99 on Monday. 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 $60.0 and its 200-day moving average is $60.95. The company has a market cap of $31.604 billion and a price-to-earnings ratio of 19.18.
CBS (NYSE:CBS) last posted its quarterly earnings results 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 $3.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Monday, September 8th. This is a positive change from CBS’s previous quarterly dividend of $0.12.
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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