CBS (NYSE:CBS) was downgraded by investment analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a research note issued on Monday, MarketBeat.com reports. They presently have a $56.00 price target on the media conglomerate’s stock. Atlantic Securities’ target price points to a potential upside of 14.89% from the company’s current price.
Several other research firms have also recently commented on CBS. BMO Capital Markets restated a “buy” rating and issued a $63.00 price target on shares of CBS in a report on Tuesday, February 5th. Barrington Research restated a “buy” rating and issued a $72.00 price target on shares of CBS in a report on Monday, February 4th. Moffett Nathanson upgraded CBS from a “neutral” rating to a “buy” rating in a report on Thursday, January 17th. TheStreet cut CBS from a “b-” rating to a “c+” rating in a report on Monday, December 31st. Finally, Stephens upgraded CBS from an “equal weight” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Wednesday, January 2nd. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. CBS currently has a consensus rating of “Buy” and an average target price of $65.02.
CBS stock traded down $0.82 during midday trading on Monday, reaching $48.74. 239,329 shares of the company were exchanged, compared to its average volume of 2,472,849. The stock has a market cap of $18.55 billion, a PE ratio of 11.63, a P/E/G ratio of 0.59 and a beta of 1.32. CBS has a 1 year low of $41.38 and a 1 year high of $59.59. The company has a current ratio of 1.51, a quick ratio of 1.05 and a debt-to-equity ratio of 3.76.
Several large investors have recently modified their holdings of the company. Capital Research Global Investors lifted its position in CBS by 31.6% during the 3rd quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock worth $1,884,518,000 after acquiring an additional 7,877,689 shares in the last quarter. Capital International Investors lifted its position in CBS by 77.7% during the 3rd quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock worth $229,157,000 after acquiring an additional 1,744,200 shares in the last quarter. State Treasurer State of Michigan raised its position in shares of CBS by 566.9% in the 4th quarter. State Treasurer State of Michigan now owns 672,427 shares of the media conglomerate’s stock valued at $29,399,000 after purchasing an additional 571,600 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of CBS by 21.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,234,338 shares of the media conglomerate’s stock valued at $185,813,000 after purchasing an additional 568,942 shares in the last quarter. Finally, Capital Guardian Trust Co. acquired a new position in shares of CBS in the 3rd quarter valued at approximately $30,851,000. Institutional investors and hedge funds own 75.25% of the company’s stock.
CBS Corporation operates as a mass media company worldwide. The company operates through 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, acquires, and distributes theatrical motion pictures; and digital streaming services.
Further Reading: Trading Strategy Examples and Plans
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.