CBS Co. (NYSE:CBS) Sees Large Decrease in Short Interest

CBS Co. (NYSE:CBS) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 10,072,800 shares, a decrease of 17.1% from the June 30th total of 12,148,500 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,310,000 shares, the days-to-cover ratio is currently 4.4 days.

CBS traded down $1.32 during trading hours on Thursday, hitting $43.33. 397,148 shares of the stock were exchanged, compared to its average volume of 2,804,313. The stock has a 50-day simple moving average of $50.87. CBS has a 12 month low of $41.38 and a 12 month high of $59.56. The firm has a market capitalization of $18.01 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.74 and a beta of 1.17. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.16 and a current ratio of 1.50.

CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. CBS had a return on equity of 61.57% and a net margin of 20.13%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that CBS will post 5.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, September 9th. CBS’s dividend payout ratio (DPR) is presently 13.87%.

A number of hedge funds have recently bought and sold shares of CBS. Horan Capital Advisors LLC. bought a new stake in CBS in the first quarter valued at $26,000. Carroll Financial Associates Inc. lifted its stake in CBS by 96.5% in the second quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock valued at $27,000 after buying an additional 275 shares during the last quarter. Whitener Capital Management Inc. lifted its stake in CBS by 57.1% in the second quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Personal Wealth Partners bought a new stake in CBS in the second quarter valued at $29,000. Finally, Weaver Consulting Group bought a new stake in CBS in the first quarter valued at $30,000. Institutional investors own 72.56% of the company’s stock.

CBS has been the subject of several research analyst reports. UBS Group set a $54.00 target price on CBS and gave the company a “hold” rating in a research note on Friday, August 9th. Imperial Capital reduced their target price on CBS from $72.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday. TheStreet upgraded CBS from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Stephens set a $64.00 target price on CBS and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Wolfe Research upgraded CBS from a “peer perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.21.

About CBS

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.

Read More: Yield Curve

Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit