CBS PT Lowered to $65.00 at Barclays (CBS)
Equities researchers at Barclays lowered their price objective on shares of CBS (NYSE:CBS) from $68.00 to $65.00 in a research report issued on Thursday. Barclays’ price objective suggests a potential upside of 7.56% from the stock’s previous close.
CBS (NYSE:CBS) opened at 60.43 on Thursday. CBS has a 52-week low of $50.77 and a 52-week high of $68.10. The stock has a 50-day moving average of $59.89 and a 200-day moving average of $61.01. The company has a market cap of $31.836 billion and a P/E ratio of 19.59. CBS also was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 21,719,474 shares, a decrease of 80.4% from the July 15th total of 110,555,774 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average trading volume of 13,755,423 shares, the short-interest ratio is currently 1.6 days.
CBS (NYSE:CBS) last announced its 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. On average, analysts predict that CBS will post $3.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, September 8th. This is a positive change from CBS’s previous quarterly dividend of $0.12.
Several other analysts have also recently commented on the stock. Analysts at FIG Partners raised their price target on shares of CBS to $350,000.00 in a research note on Tuesday. Separately, analysts at Evercore Partners reiterated a “conviction-buy” rating on shares of CBS in a research note on Monday. Finally, 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. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17,564.84.
In other CBS news, CEO Leslie Moonves unloaded 93,750 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available at this link.
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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