CBS (NYSE:CBS) Given New $68.00 Price Target at Benchmark
CBS (NYSE:CBS) had its price target lowered by stock analysts at Benchmark from $71.00 to $68.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the media conglomerate’s stock. Benchmark’s price target would indicate a potential upside of 51.31% from the stock’s previous close.
CBS has been the subject of a number of other research reports. BMO Capital Markets lowered CBS from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $60.00 to $51.00 in a report on Wednesday. Stephens set a $64.00 price target on CBS and gave the company a “buy” rating in a report on Friday, August 9th. Sanford C. Bernstein lowered CBS from a “market perform” rating to an “underperform” rating in a report on Tuesday. Bank of America upgraded CBS from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $63.00 in a report on Wednesday. Finally, Imperial Capital lowered their price target on CBS from $72.00 to $62.00 and set an “outperform” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.21.
Shares of NYSE CBS traded down $3.76 during trading hours on Wednesday, reaching $44.94. The stock had a trading volume of 7,168,111 shares, compared to its average volume of 2,732,596. The company has a current ratio of 1.50, a quick ratio of 1.16 and a debt-to-equity ratio of 2.35. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The company has a fifty day moving average price of $50.87. CBS has a 52-week low of $41.38 and a 52-week high of $59.56.
Institutional investors have recently bought and sold shares of the business. Allstate Corp lifted its holdings in CBS by 61.2% during the first quarter. Allstate Corp now owns 10,904 shares of the media conglomerate’s stock worth $518,000 after buying an additional 4,141 shares during the period. Tech Square Trading LP acquired a new position in shares of CBS during the first quarter worth $299,000. Greenwood Capital Associates LLC acquired a new position in shares of CBS during the first quarter worth $243,000. Oppenheimer & Co. Inc. increased its position in shares of CBS by 18.9% during the first quarter. Oppenheimer & Co. Inc. now owns 39,288 shares of the media conglomerate’s stock worth $1,867,000 after purchasing an additional 6,255 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. increased its position in shares of CBS by 35.1% during the first quarter. Letko Brosseau & Associates Inc. now owns 1,779,282 shares of the media conglomerate’s stock worth $84,569,000 after purchasing an additional 462,110 shares in the last quarter. Institutional investors own 72.56% of the company’s stock.
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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