Bank of America Issues a Downgrade on CBS (NYSE:CBS) Shares. What’s Next?

May 17, 2018 - By Ann Prendergast

CBS Corporation (NYSE:CBS) Logo

Investors sentiment decreased to 0.59 in Q4 2017. Its down 0.44, from 1.03 in 2017Q3. It dived, as 80 investors sold CBS Corporation shares while 278 reduced holdings. 65 funds opened positions while 148 raised stakes. 226.28 million shares or 0.25% more from 225.71 million shares in 2017Q3 were reported.

Credit Suisse Ag stated it has 817,182 shares. Smithfield Trust Com reported 1,226 shares. 78 are held by Peoples. Winslow Evans Crocker invested in 658 shares. Blair William And Il owns 12,888 shares for 0.01% of their portfolio. Ubs Asset Mgmt Americas holds 0.1% or 1.91M shares in its portfolio. Ogorek Anthony Joseph Ny Adv reported 325 shares. Boston Private Wealth Lc invested in 0.01% or 3,515 shares. Westchester Capital Mgmt Ltd Liability Corporation holds 0.09% of its portfolio in CBS Corporation (NYSE:CBS) for 37,225 shares. The France-based Bnp Paribas Asset Mgmt Holding has invested 0% in CBS Corporation (NYSE:CBS). Baldwin Brothers Ma owns 3 shares for 0% of their portfolio. Pub Employees Retirement Systems Of Ohio has invested 0.07% in CBS Corporation (NYSE:CBS). Moreover, Stevens Limited Partnership has 0.41% invested in CBS Corporation (NYSE:CBS) for 180,299 shares. Alphamark Advisors Lc holds 162 shares. Royal Bank & Trust Of Canada accumulated 155 shares.

Since December 12, 2017, it had 0 buys, and 15 sales for $71.37 million activity. Ianniello Joseph R sold 233,544 shares worth $14.12M.

CBS (NYSE:CBS) Receives a Downgrade

In a research note revealed to investors on Thursday morning, Bank of America decreased shares of CBS (NYSE:CBS) to a lower “Neutral” rating from the previous “Buy” rating.

CBS Corporation (NYSE:CBS) Ratings Coverage

Among 16 analysts covering CBS Corp (NYSE:CBS), 12 have Buy rating, 0 Sell and 4 Hold. Therefore 75% are positive. CBS Corp has $80.0 highest and $61 lowest target. $69.54’s average target is 34.74% above currents $51.61 stock price. CBS Corp had 23 analyst reports since November 22, 2017 according to SRatingsIntel. The stock has “Hold” rating by KeyBanc Capital Markets on Tuesday, April 3. The stock of CBS Corporation (NYSE:CBS) earned “Buy” rating by BMO Capital Markets on Wednesday, November 22. The company was maintained on Tuesday, January 2 by Stephens. Cowen & Co maintained it with “Buy” rating and $69.0 target in Friday, February 16 report. On Wednesday, February 21 the stock rating was maintained by BMO Capital Markets with “Outperform”. Wells Fargo maintained the stock with “Buy” rating in Thursday, January 4 report. BMO Capital Markets maintained CBS Corporation (NYSE:CBS) rating on Wednesday, April 25. BMO Capital Markets has “Buy” rating and $6500 target. The rating was upgraded by Bernstein on Tuesday, May 15 to “Outperform”. The rating was maintained by RBC Capital Markets with “Buy” on Friday, February 16. The firm has “Neutral” rating given on Tuesday, January 2 by Macquarie Research.

The stock decreased 4.12% or $2.22 during the last trading session, reaching $51.61. About 11.98M shares traded or 219.50% up from the average. CBS Corporation (NYSE:CBS) has declined 22.43% since May 18, 2017 and is downtrending. It has underperformed by 33.98% the S&P500.

Analysts await CBS Corporation (NYSE:CBS) to report earnings on August, 6. They expect $1.16 EPS, up 11.54 % or $0.12 from last year’s $1.04 per share. CBS’s profit will be $439.77M for 11.12 P/E if the $1.16 EPS becomes a reality. After $1.34 actual EPS reported by CBS Corporation for the previous quarter, Wall Street now forecasts -13.43 % negative EPS growth.

CBS Corporation operates as a mass media firm worldwide. The company has market cap of $19.57 billion. The firm operates through four divisions: Entertainment, Cable Networks, Publishing, and Local Media. It has a 58.58 P/E ratio. 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.

More notable recent CBS Corporation (NYSE:CBS) news were published by: 247Wallst.com which released: “Top Analyst Upgrades and Downgrades: CBS, Ford, Pivotal Software, Spotify, Symantec, Ulta Beauty and More” on May 15, 2018, also Streetinsider.com with their article: “CBS to challenge National Amusements’ move to change bylaws: sources” published on May 17, 2018, Seekingalpha.com published: “McIntyre Partnerships Q1 Letter: Long Public Hedge Fund Spinoff” on May 16, 2018. More interesting news about CBS Corporation (NYSE:CBS) were released by: Benzinga.com and their article: “Bernstein: ‘Almost 0%’ Chance Of A CBS-Viacom Reunion” published on May 15, 2018 as well as Streetinsider.com‘s news article titled: “CBS (CBS) to challenge in court National Amusement’s change to bylaws requiring supermajority vote on dividends …” with publication date: May 17, 2018.

CBS Corporation (NYSE:CBS) Institutional Positions Chart

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