It May Be Time to Sell Shares of CBS Corp (NYSE:CBS) as Merrill Lynch Has Downgraded The Company

May 18, 2018 - By Mona Holcomb

CBS Corporation (NYSE:CBS) Logo

Investors sentiment decreased to 0.59 in 2017 Q4. 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.

Walleye Trading Limited Co has invested 0% of its portfolio in CBS Corporation (NYSE:CBS). Estabrook Capital Mgmt stated it has 0.01% in CBS Corporation (NYSE:CBS). Shikiar Asset Mgmt Inc invested 4.6% in CBS Corporation (NYSE:CBS). Sg Americas Limited Liability invested in 43,431 shares or 0.02% of the stock. Toronto Dominion Bankshares reported 155,517 shares. 30,907 were accumulated by Mirae Asset Global Investments Ltd. Endurance Wealth owns 211 shares. Ibm Retirement Fund has 0.09% invested in CBS Corporation (NYSE:CBS). Reilly Financial Advisors Ltd Com holds 0.01% of its portfolio in CBS Corporation (NYSE:CBS) for 607 shares. Godshalk Welsh Capital Mngmt Incorporated stated it has 0.35% in CBS Corporation (NYSE:CBS). Community Trust And Inv stated it has 1.48% in CBS Corporation (NYSE:CBS). Gyroscope Capital Gru Lc accumulated 3,910 shares. Whittier Trust Co has invested 0.01% in CBS Corporation (NYSE:CBS). Dowling & Yahnke Ltd Liability holds 7,128 shares or 0.04% of its portfolio. Shapiro Cap Management Limited Com has 2.36% invested in CBS Corporation (NYSE:CBS).

Since December 12, 2017, it had 0 insider buys, and 15 insider sales for $71.37 million activity. $3.86M worth of CBS Corporation (NYSE:CBS) shares were sold by MOONVES LESLIE.

CBS Corp (NYSE:CBS) Receives a Downgrade

Merrill Lynch has issued an update for CBS Corp (NYSE:CBS) shares with a new “Hold” rating in an analyst report revealed to investors and clients on Thursday morning. Their PT on the stock is now $58.0000.

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 firm has “Overweight” rating given on Wednesday, December 6 by Morgan Stanley. Cowen & Co maintained the stock with “Buy” rating in Friday, February 16 report. The stock of CBS Corporation (NYSE:CBS) earned “Buy” rating by Citigroup on Wednesday, March 28. The firm earned “Buy” rating on Tuesday, January 2 by Stephens. The stock has “Outperform” rating by BMO Capital Markets on Wednesday, February 21. As per Wednesday, January 3, the company rating was maintained by Piper Jaffray. The stock of CBS Corporation (NYSE:CBS) has “Hold” rating given on Monday, January 22 by Stephens. RBC Capital Markets maintained CBS Corporation (NYSE:CBS) rating on Friday, February 16. RBC Capital Markets has “Buy” rating and $71.0 target. Rosenblatt maintained CBS Corporation (NYSE:CBS) on Tuesday, January 16 with “Buy” rating. BMO Capital Markets maintained CBS Corporation (NYSE:CBS) rating on Wednesday, November 22. BMO Capital Markets has “Buy” rating and $75.0 target.

The stock decreased 4.12% or $2.22 during the last trading session, reaching $51.61. About 11.99M shares traded or 219.64% 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 $439.77 million 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: Benzinga.com which released: “Bernstein: ‘Almost 0%’ Chance Of A CBS-Viacom Reunion” on May 15, 2018, also Seekingalpha.com with their article: “McIntyre Partnerships Q1 Letter: Long Public Hedge Fund Spinoff” published on May 16, 2018, Streetinsider.com published: “CBS (CBS) to challenge in court National Amusement’s change to bylaws requiring supermajority vote on dividends …” on May 17, 2018. More interesting news about CBS Corporation (NYSE:CBS) were released by: Streetinsider.com and their article: “CBS Corp. (CBS) ) to hold a meeting on Thursday to consider declaring a dividend of Class A common stock to Class A …” published on May 17, 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

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: