Somewhat Positive Media Coverage Somewhat Unlikely to Impact CBS Corporation (CBS) Share Price
Headlines about CBS Corporation (NYSE:CBS) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. CBS Corporation earned a news impact score of 0.05 on Accern’s scale. Accern also gave press coverage about the media conglomerate an impact score of 44.9310350780191 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:
- CBS Corporation (CBS) Given Consensus Rating of “Buy” by Analysts (americanbankingnews.com)
- BRIEF-CBS Corp announces preliminary results of CBS Radio exchange offer (CBS, ETM) (markets.businessinsider.com)
- CBS Corp. (CBS) Completes Split-Off Of CBS Radio (streetinsider.com)
- Entercom completes $2.4 billion CBS Radio deal (bizjournals.com)
- Entercom Finalizes Merger With CBS Radio, Becoming No. 2 Radio Operator in US (billboard.com)
CBS Corporation (CBS) traded up $0.34 on Friday, reaching $56.74. The company’s stock had a trading volume of 29,721,559 shares, compared to its average volume of 13,425,742. CBS Corporation has a fifty-two week low of $52.75 and a fifty-two week high of $70.10. The company has a market cap of $22,702.10, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10.
Several research analysts have weighed in on CBS shares. ValuEngine lowered CBS Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Zacks Investment Research lowered CBS Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Barclays PLC lowered their target price on CBS Corporation from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, October 13th. Cowen and Company reiterated a “buy” rating and set a $69.00 price objective on shares of CBS Corporation in a research note on Friday, October 27th. Finally, Loop Capital reiterated a “buy” rating and set a $78.00 price objective on shares of CBS Corporation in a research note on Sunday, August 20th. Six equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $73.33.
In other news, EVP Gil D. Schwartz sold 54,131 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.40, for a total value of $3,161,250.40. Following the transaction, the executive vice president now directly owns 102,483 shares in the company, valued at approximately $5,985,007.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bruce S. Gordon sold 5,093 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $55.50, for a total value of $282,661.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 514,317 shares of company stock valued at $30,936,894. 2.03% of the stock is owned by corporate insiders.
About CBS Corporation
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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