In today’s session CBS Corporation (CBS) recorded an unusually high (541) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CBS decrease. With 541 contracts traded and 194 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CBS161118P00055000 closed last at: $2.31 or 8% down. The stock increased 1.13% or $0.62 during the last trading session, hitting $55.55. About 5.82 million shares traded hands or 23.83% up from the average. CBS Corporation (NYSE:CBS) has risen 9.31% since March 1, 2016 and is uptrending. It has outperformed by 0.07% the S&P500.
Analysts await CBS Corporation (NYSE:CBS) to report earnings on November, 1. They expect $0.99 earnings per share, up 12.50% or $0.11 from last year’s $0.88 per share. CBS’s profit will be $442.16M for 14.03 P/E if the $0.99 EPS becomes a reality. After $0.93 actual earnings per share reported by CBS Corporation for the previous quarter, Wall Street now forecasts 6.45% EPS growth.
CBS Corporation (NYSE:CBS) Ratings Coverage
Out of 19 analysts covering CBS Corp (NYSE:CBS), 15 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 79% are positive. $75 is the highest target while $49 is the lowest. The $59.39 average target is 6.91% above today’s ($55.55) stock price. CBS Corp has been the topic of 43 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Tuesday, August 18 the stock rating was downgraded by Wells Fargo to “Market Perform”. Barclays Capital maintained the stock with “Equal-Weight” rating in Friday, August 14 report. Telsey Advisory Group maintained it with “Outperform” rating and $67 target price in Friday, May 20 report. Telsey Advisory Group initiated CBS Corporation (NYSE:CBS) on Friday, February 5 with “Outperform” rating. The firm has “Outperform” rating by Credit Suisse given on Monday, February 22. UBS upgraded the shares of CBS in a report on Tuesday, October 4 to “Buy” rating. Stifel Nicolaus maintained CBS Corporation (NYSE:CBS) rating on Friday, January 8. Stifel Nicolaus has “Buy” rating and $54.0 price target. The firm has “Outperform” rating by Barrington Research given on Monday, August 10. The stock of CBS Corporation (NYSE:CBS) has “Outperform” rating given on Friday, August 21 by Credit Suisse. Deutsche Bank maintained it with “Buy” rating and $64 target price in Friday, March 18 report.
Insitutional Activity: The institutional sentiment increased to 0.89 in Q2 2016. Its up 0.02, from 0.87 in 2016Q1. The ratio increased, as 50 funds sold all CBS Corporation shares owned while 234 reduced positions. 52 funds bought stakes while 201 increased positions. They now own 282.48 million shares or 8.70% less from 309.41 million shares in 2016Q1.
Mark Asset Mngmt Corporation holds 0.79% of its portfolio in CBS Corporation (NYSE:CBS) for 48,905 shares. Northcoast Asset Management Ltd holds 1.79% or 480,196 shares in its portfolio. Addenda Cap owns 118,125 shares or 0.54% of their US portfolio. Chicago Equity Prtnrs Ltd Liability Corporation last reported 0.01% of its portfolio in the stock. Stevens Capital Mgmt L P accumulated 66,214 shares or 0.14% of the stock. Glenmede Trust Com Na last reported 0.01% of its portfolio in the stock. Stifel Financial last reported 286,000 shares in the company. State Treasurer State Of Michigan accumulated 0.06% or 144,267 shares. Mufg Americas Corporation reported 2,081 shares or 0% of all its holdings. Rocky Mountain Advisers Lc holds 0.05% or 158 shares in its portfolio. Ing Groep Nv, a Netherlands-based fund reported 25,662 shares. New York State Teachers Retirement System reported 751,498 shares or 0.11% of all its holdings. Birmingham Cap Management Inc Al has invested 3.16% of its portfolio in CBS Corporation (NYSE:CBS). Gam Hldg Ag has 0.05% invested in the company for 54,181 shares. Tanaka Cap Incorporated last reported 15.06% of its portfolio in the stock.
Insider Transactions: Since April 6, 2016, the stock had 0 insider buys, and 10 sales for $5.27 million net activity. Ambrosio Anthony G sold $472,539 worth of stock or 9,000 shares. 5,093 shares were sold by CALIFANO JOSEPH A, worth $266,151. Tu Lawrence had sold 28,104 shares worth $1.61 million on Thursday, May 5. Another trade for 8,946 shares valued at $510,750 was sold by Anschell Jonathan. Goldberg Leonard sold 1,698 shares worth $87,909.
CBS Corporation is a mass media company. The company has a market cap of $24.81 billion. The Company’s divisions include Entertainment, Cable Networks, Publishing and Local Broadcasting. It has a 16.52 P/E ratio. The Company’s Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group ; CBS Interactive, and CBS Films.
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