CBS Corporation (CBS) is Reiterated by Wedbush to Outperform, Raises Price Target to $ 65

CBS Corporation (CBS) was Reiterated by Wedbush to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 65 from a previous price target of $63 . Wedbush advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on CBS Corporation. Company shares were Reiterated by Topeka Capital Markets on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $64 .Company shares were Reiterated by Pivotal Research Group on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $63 .Company shares were Reiterated by FBR Capital on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 68 from a previous price target of $66 .

On the company’s financial health, CBS Corporation reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.94. The company had revenue of $3849.00 million for the quarter, compared to analysts expectations of $3829.62 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

CBS Corporation opened for trading at $56.02 and hit $56.645 on the upside on Monday, eventually ending the session at $56.47, with a gain of 1.00% or 0.56 points. The heightened volatility saw the trading volume jump to 26,33,459 shares. Company has a market cap of $25,950 M.

In a different news, on Apr 22, 2016, Anthony G Ambrosio (Sr.EVP Chief Admin & HR Ofcr) sold 8,250 shares at $54.87 per share price. According to the SEC, on Mar 15, 2016, Joseph R Ianniello (Chief Operating Officer) sold 33,975 shares at $52.69 per share price. On Nov 19, 2015, Charles K Gifford (director) sold 17,827 shares at $51.20 per share price, according to the Form-4 filing with the securities and exchange commission.

CBS Corporation is a mass media company. The Company operates through segments including Entertainment Cable Networks Publishing and Local Broadcasting. The Entertainment segment is composed of the CBS Television Network CBS Television Studios CBS Global Distribution Group CBS Interactive and CBS Films. The Cable Networks segment is composed of Showtime Networks which operates program services such as Showtime The Movie Channel and Flix; CBS Sports Network and Smithsonian Networks which operates a program service Smithsonian Channel. The Publishing segment is composed of Simon & Schuster which publishes and distributes consumer books under imprints such as Simon & Schuster Pocket Books Scribner and Atria Books. The Local Broadcasting segment is composed of CBS Television Stations the Company’s 30 owned broadcast television stations and CBS Radio through which the Company owns and operates 117 radio stations in 26 United States markets.

CBS Corporation

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