CBS Corporation (CBS) was Downgraded by Telsey Advisory Group to ” Market Perform” while Lowering the Price Target of the company shares to $ 57 from a previous price target of $67 . Earlier the firm had a rating of “Outperform ” on the company shares. Telsey Advisory Group advised their investors in a research report released on Sep 22, 2016.
Many Wall Street Analysts have commented on CBS Corporation. CBS Corporation was Initiated by Drexel Hamilton to “Buy” on Sep 6, 2016. UBS Downgraded CBS Corporation on Jul 15, 2016 to ” Sell”, Price Target of the shares are set at $52.
On the company’s financial health, CBS Corporation reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.86. The company had revenue of $3287.00 million for the quarter, compared to analysts expectations of $3214.26 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
CBS Corporation closed down -1.11 points or -2.17% at $49.97 with 83,64,371 shares getting traded on Tuesday. Post opening the session at $51.9, the shares hit an intraday low of $49.16 and an intraday high of $51.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Aug 23, 2016, Leonard Goldberg (director) sold 1,698 shares at $51.77 per share price. According to the SEC, on Aug 5, 2016, Joseph A Califano (director) sold 5,093 shares at $52.26 per share price. 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 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.