The stock of CBS Corporation (NYSE:CBS) hit a new 52-week high and has $96.78 target or 68.00% above today’s $57.61 share price. The 8 months bullish chart indicates low risk for the $25.01 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $96.78 price target is reached, the company will be worth $17.01 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.70M shares traded hands. CBS Corporation (NYSE:CBS) has risen 5.07% since April 5, 2016 and is uptrending. It has outperformed by 3.11% the S&P500.
CBS Corporation (NYSE:CBS) Ratings Coverage
Out of 20 analysts covering CBS Corp (NYSE:CBS), 16 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 80% are positive. $75 is the highest target while $49 is the lowest. The $60.05 average target is 4.24% above today’s ($57.61) stock price. CBS Corp has been the topic of 44 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was upgraded on Wednesday, March 9 by Wells Fargo. The stock of CBS Corporation (NYSE:CBS) has “Buy” rating given on Wednesday, November 4 by Topeka Capital Markets. On Wednesday, March 16 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock of CBS Corporation (NYSE:CBS) earned “Buy” rating by Pivotal Research on Thursday, August 6. The firm has “Buy” rating by Pivotal Research given on Tuesday, August 18. The stock of CBS Corporation (NYSE:CBS) has “Outperform” rating given on Friday, February 12 by Wedbush. UBS maintained the shares of CBS in a report on Wednesday, November 4 with “Neutral” rating. Barclays Capital maintained the stock with “Hold” rating in Sunday, August 16 report. The rating was maintained by Piper Jaffray on Monday, September 21 with “Buy”. As per Monday, February 22, the company rating was maintained by Credit Suisse.
According to Zacks Investment Research, “CBS Corporation is a mass media company that creates and distributes industry-leading content to audiences worldwide. CBS has businesses with origins that date back to the beginnings of broadcast as well as new ventures that operate on media’s leading edge. It owns the most-watched television network in the U.S. and one of the world’s largest entertainment libraries. CBS’s operations span nearly every field of media and entertainment, including cable, publishing, radio, TV, film, outdoor advertising, and interactive and socially responsible media. Its businesses include CBS Television Network, The CW (owned by CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.”
Insitutional Activity: The institutional sentiment increased to 0.89 in 2016 Q2. Its up 0.02, from 0.87 in 2016Q1. The ratio improved, 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.
Exxonmobil Mgmt Inc Tx accumulated 107,504 shares or 0.12% of the stock. Pine River Cap Management Limited Partnership last reported 0.02% of its portfolio in the stock. The New York-based Tanaka Mgmt Inc has invested 15.06% in CBS Corporation (NYSE:CBS). Pinnacle Associates Limited has 349,818 shares for 0.41% of their US portfolio. Moreover, Pacad Invest has 0.11% invested in CBS Corporation (NYSE:CBS) for 14,200 shares. Palisade Mgmt Limited Liability Corp Nj accumulated 0.22% or 112,175 shares. Sg Americas Secs Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Addenda Inc accumulated 118,125 shares or 0.54% of the stock. The Pennsylvania-based Sei Company has invested 0.04% in CBS Corporation (NYSE:CBS). Clearbridge Invs Ltd Liability Co accumulated 2.09M shares or 0.13% of the stock. Quinn Opportunity Prtnrs Ltd Liability has 26,008 shares for 0.55% of their US portfolio. Moreover, Klingenstein Fields And Limited Liability Corp has 0.01% invested in CBS Corporation (NYSE:CBS) for 5,216 shares. Calvert Mngmt has invested 0.07% of its portfolio in CBS Corporation (NYSE:CBS). Dai Ichi Life Ins Co Ltd holds 0.17% or 101,204 shares in its portfolio. Gabelli Securities has 8,400 shares for 0.06% of their US portfolio.
Insider Transactions: Since May 18, 2016, the stock had 0 insider buys, and 10 selling transactions for $5.50 million net activity. Ambrosio Anthony G sold $448,496 worth of CBS Corporation (NYSE:CBS) on Wednesday, June 29. CALIFANO JOSEPH A sold $266,151 worth of CBS Corporation (NYSE:CBS) on Wednesday, August 3. The insider Goldberg Leonard sold $87,909.
Another recent and important CBS Corporation (NYSE:CBS) news was published by Prnewswire.com which published an article titled: “CBS Corporation Reports Third Quarter 2016 Results” on November 03, 2016.
CBS Company Profile
CBS Corporation, incorporated on November 10, 1986, is a mass media company. The Firm operates through divisions, including Entertainment, Cable Networks, Publishing and Local Broadcasting. The Firm operates businesses, which span the media and entertainment industries, including the CBS Television Network, cable networks, content production and distribution, television and radio stations, Internet businesses, and consumer publishing.
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