CBS Corporation (CBS) was Downgraded by UBS to ” Sell” and the brokerage firm has set the Price Target at $52. Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on CBS Corporation. Company shares were Reiterated by Telsey Advisory Group on May 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 67 from a previous price target of $63 .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 .
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 closed down -2.09 points or -3.61% at $55.85 with 67,83,003 shares getting traded on Friday. Post opening the session at $56.91, the shares hit an intraday low of $55.69 and an intraday high of $57.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 30, 2016, Anthony G Ambrosio (Sr.EVP Chief Admin & HR Ofcr) sold 8,500 shares at $52.76 per share price. According to the SEC, on May 6, 2016, Lawrence Tu (Sr.EVP, Chief Legal Officer) sold 28,104 shares at $57.17 per share price. On May 6, 2016, Jonathan Anschell (EVP, Deputy GC and Secretary) sold 8,946 shares at $57.09 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.