CBS (NYSE:CBS) Downgraded by BMO Capital Markets

CBS (NYSE:CBS) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other brokerages also recently weighed in on CBS. Loop Capital increased their price target on shares of CBS to $65.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Stephens set a $64.00 price target on shares of CBS and gave the stock a “buy” rating in a report on Friday, August 9th. Sanford C. Bernstein downgraded shares of CBS from a “market perform” rating to an “underperform” rating in a report on Tuesday. Barrington Research cut their price target on shares of CBS from $72.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Finally, UBS Group set a $54.00 price target on shares of CBS and gave the stock a “hold” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $62.00.

Shares of NYSE:CBS opened at $48.70 on Wednesday. CBS has a twelve month low of $41.38 and a twelve month high of $59.56. The stock has a 50 day simple moving average of $50.95. The company has a current ratio of 1.50, a quick ratio of 1.16 and a debt-to-equity ratio of 2.35. The firm has a market cap of $18.33 billion, a P/E ratio of 9.38, a PEG ratio of 0.75 and a beta of 1.17.

CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. CBS had a net margin of 20.13% and a return on equity of 61.57%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company earned $1.12 EPS. CBS’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that CBS will post 5.51 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in CBS. Baupost Group LLC MA lifted its position in shares of CBS by 17.1% during the 2nd quarter. Baupost Group LLC MA now owns 10,000,000 shares of the media conglomerate’s stock valued at $499,000,000 after buying an additional 1,457,984 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of CBS by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,278,156 shares of the media conglomerate’s stock valued at $250,871,000 after buying an additional 37,453 shares in the last quarter. Investec Asset Management LTD lifted its position in shares of CBS by 1.4% during the 1st quarter. Investec Asset Management LTD now owns 3,776,288 shares of the media conglomerate’s stock valued at $179,487,000 after buying an additional 52,050 shares in the last quarter. Sound Shore Management Inc. CT lifted its position in shares of CBS by 26.9% during the 1st quarter. Sound Shore Management Inc. CT now owns 3,672,642 shares of the media conglomerate’s stock valued at $174,561,000 after buying an additional 779,563 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of CBS by 1.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,350,869 shares of the media conglomerate’s stock valued at $159,267,000 after buying an additional 49,497 shares in the last quarter. Institutional investors and hedge funds own 72.56% of the company’s stock.

CBS Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.

Further Reading: Recession

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