Needham & Company LLC Reiterates Buy Rating for CBS (NYSE:CBS)
CBS (NYSE:CBS)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report released on Tuesday, AnalystRatings.com reports. They presently have a $60.00 price target on the media conglomerate’s stock. Needham & Company LLC’s price objective indicates a potential upside of 55.56% from the company’s current price.
A number of other equities analysts have also recently weighed in on the stock. Citigroup reduced their price objective on shares of CBS from $57.00 to $51.00 and set a “buy” rating for the company in a research report on Friday, October 25th. UBS Group set a $54.00 price objective on shares of CBS and gave the stock a “hold” rating in a research report on Friday, August 9th. Benchmark reduced their price objective on shares of CBS from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. TheStreet cut shares of CBS from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Finally, Barrington Research restated a “buy” rating and set a $47.00 price objective on shares of CBS in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.00.
NYSE:CBS traded up $0.94 during trading hours on Tuesday, reaching $38.57. 6,850,206 shares of the company were exchanged, compared to its average volume of 5,721,908. The company has a current ratio of 1.52, a quick ratio of 1.14 and a debt-to-equity ratio of 2.04. The stock’s 50-day moving average is $37.76 and its 200-day moving average is $45.36. The firm has a market cap of $13.81 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 0.64 and a beta of 1.17. CBS has a twelve month low of $35.02 and a twelve month high of $57.80.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ellevest Inc. acquired a new stake in shares of CBS in the second quarter valued at about $25,000. Whitener Capital Management Inc. grew its holdings in shares of CBS by 57.1% in the second quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Carroll Financial Associates Inc. grew its holdings in shares of CBS by 96.5% in the second quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock valued at $27,000 after purchasing an additional 275 shares during the period. Personal Wealth Partners purchased a new stake in shares of CBS in the second quarter valued at about $29,000. Finally, NEXT Financial Group Inc grew its holdings in shares of CBS by 70.2% in the second quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock valued at $30,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 74.27% 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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