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.
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.
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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