CBS (NYSE:CBS) had its target price reduced by Benchmark from $71.00 to $68.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the media conglomerate’s stock. Benchmark’s price objective suggests a potential upside of 51.31% from the stock’s current price.
Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of CBS from a “c+” rating to a “b-” rating in a report on Tuesday, April 30th. BMO Capital Markets lowered shares of CBS from an “outperform” rating to a “market perform” rating and cut their price target for the company from $60.00 to $51.00 in a report on Wednesday. Loop Capital raised their price target on shares of CBS to $65.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Stephens set a $64.00 price target on shares of CBS and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Bank of America upgraded shares of CBS from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $63.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.21.
Shares of CBS stock traded down $3.76 during trading hours on Wednesday, hitting $44.94. 7,168,111 shares of the company were exchanged, compared to its average volume of 2,732,596. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.75 and a beta of 1.17. CBS has a 1 year low of $41.38 and a 1 year high of $59.56. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.16 and a current ratio of 1.50. The business’s fifty day moving average price is $50.87.
CBS (NYSE:CBS) last announced its quarterly earnings data 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. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.71 billion. CBS had a net margin of 20.13% and a return on equity of 61.57%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. As a group, equities research analysts predict that CBS will post 5.51 earnings per share for the current year.
A number of large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC boosted its holdings in CBS by 11.2% in the second quarter. Cubist Systematic Strategies LLC now owns 24,382 shares of the media conglomerate’s stock worth $1,217,000 after purchasing an additional 2,450 shares during the period. Marshall Wace LLP boosted its holdings in CBS by 5,978.8% in the second quarter. Marshall Wace LLP now owns 617,549 shares of the media conglomerate’s stock worth $30,816,000 after purchasing an additional 607,390 shares during the period. Clearline Capital LP acquired a new position in CBS in the second quarter worth $1,174,000. PointState Capital LP boosted its holdings in CBS by 112.5% in the second quarter. PointState Capital LP now owns 57,600 shares of the media conglomerate’s stock worth $2,874,000 after purchasing an additional 30,500 shares during the period. Finally, Capital Bank & Trust Co boosted its holdings in CBS by 504.6% in the second quarter. Capital Bank & Trust Co now owns 7,189 shares of the media conglomerate’s stock worth $359,000 after purchasing an additional 6,000 shares during the period. 72.56% of the stock is owned by institutional investors.
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.
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