BofA Merrill Gives CBS (CBS) a Lower Rating. Drops its Buy Rating

May 17, 2018 - By Harriett Tippett

CBS Corporation (NYSE:CBS) Logo

Investors sentiment decreased to 0.59 in Q4 2017. Its down 0.44, from 1.03 in 2017Q3. It fall, 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.

Institute For Wealth Ltd Liability Company holds 0.11% or 8,093 shares. Raymond James And Assoc holds 187,751 shares. Moreover, Channing Cap Management Ltd Limited Liability Company has 0.5% invested in CBS Corporation (NYSE:CBS). Sii Wi invested in 0.05% or 8,019 shares. Magnetar Fin Llc has invested 0.03% in CBS Corporation (NYSE:CBS). 1.11M were accumulated by Sumitomo Mitsui. 78 were accumulated by Peoples Financial Serv Corp. Hanson Mcclain holds 197 shares. Oakworth Cap has 0% invested in CBS Corporation (NYSE:CBS) for 50 shares. Morgan Stanley has invested 0% in CBS Corporation (NYSE:CBS). Bridgewater Assocs Limited Partnership invested 0.08% in CBS Corporation (NYSE:CBS). Marathon Mgmt has invested 0.79% in CBS Corporation (NYSE:CBS). Mufg Americas Hldg reported 1,736 shares or 0% of all its holdings. Old Commercial Bank In invested in 16,261 shares or 0.05% of the stock. Los Angeles Mngmt & Equity Rech Incorporated holds 0.06% of its portfolio in CBS Corporation (NYSE:CBS) for 194,593 shares.

Since December 12, 2017, it had 0 buys, and 15 insider sales for $71.37 million activity. $4.89M worth of stock was sold by MOONVES LESLIE on Wednesday, December 13.

CBS (CBS) Receives a Downgrade

In a research note revealed to clients and investors on Thursday morning, BofA Merrill announced that they will be downgrading shares of CBS (CBS) from a Buy to a Neutral rating.

The stock decreased 4.12% or $2.22 during the last trading session, reaching $51.61. About 11.69M shares traded or 211.57% up from the average. CBS Corporation (CBS) has declined 22.43% since May 17, 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 earnings per share, 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 earnings per share 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: Seekingalpha.com which released: “McIntyre Partnerships Q1 Letter: Long Public Hedge Fund Spinoff” on May 16, 2018, also Seekingalpha.com with their article: “CBS Q1: Growth Goals On Track” published on May 09, 2018, Seekingalpha.com published: “National Amusements to CBS: See you in court” on May 14, 2018. More interesting news about CBS Corporation (NYSE:CBS) were released by: Streetinsider.com and their article: “National Amusement says it will amend CBS (CBS) bylaws to require a supermajority of CBS board to approve …” published on May 16, 2018 as well as Benzinga.com‘s news article titled: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” with publication date: May 17, 2018.

CBS Corporation (NYSE:CBS) Institutional Positions Chart

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