CBS Co. (NYSE:CBS) Short Interest Update

CBS Co. (NYSE:CBS) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 13,800,000 shares, a decrease of 12.9% from the September 30th total of 15,850,000 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average daily volume of 5,020,000 shares, the short-interest ratio is presently 2.7 days.

Shares of NYSE:CBS traded up $0.94 during trading on Friday, hitting $38.57. The stock had a trading volume of 6,850,206 shares, compared to its average volume of 5,488,932. The company has a quick ratio of 1.14, a current ratio of 1.52 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $14.10 billion, a PE ratio of 7.43, a PEG ratio of 0.65 and a beta of 1.17. The firm’s fifty day moving average is $37.76 and its 200 day moving average is $45.36. CBS has a 12 month low of $35.02 and a 12 month high of $57.80.

CBS (NYSE:CBS) last posted its quarterly earnings results on Tuesday, November 12th. The media conglomerate reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.37 billion. CBS had a return on equity of 44.13% and a net margin of 18.98%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. Equities research analysts expect that CBS will post 4.98 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Ellevest Inc. purchased a new stake in shares of CBS in the 2nd quarter worth approximately $25,000. Whitener Capital Management Inc. grew its stake in shares of CBS by 57.1% in the 2nd quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Carroll Financial Associates Inc. grew its stake in shares of CBS by 96.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after buying an additional 275 shares during the last quarter. Personal Wealth Partners purchased a new stake in shares of CBS in the 2nd quarter worth approximately $29,000. Finally, NEXT Financial Group Inc grew its stake in shares of CBS by 70.2% in the 2nd quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock worth $30,000 after buying an additional 245 shares during the last quarter. Institutional investors own 74.27% of the company’s stock.

A number of research analysts have commented on CBS shares. Imperial Capital lowered their price target on CBS from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. TheStreet lowered CBS from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. ValuEngine raised CBS from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Loop Capital decreased their target price on CBS to $50.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Wells Fargo & Co decreased their target price on CBS from $40.00 to $31.00 and set an “underperform” rating for the company in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. CBS has an average rating of “Hold” and an average price target of $52.00.

About CBS

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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