Rating Change: Is CBS (NYSE:CBS) a Stock to Sell After BMO Capital Downgrade?

November 23, 2016 - By Michael Collier

Rating Change: Is CBS (NYSE:CBS) a Stock to Sell After BMO Capital Downgrade?

CBS (NYSE:CBS) Downgrade

BMO Capital downgraded CBS (NYSE:CBS)‘s stock to a Market Perform rating from a Outperform. This rating change was sent to clients and investors in a analysts report today.

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 -0.27% below today’s ($60.21) stock price. CBS Corp has been the topic of 44 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by UBS on Wednesday, March 16 with “Neutral”. The company was maintained on Friday, January 8 by Stifel Nicolaus. The stock of CBS Corporation (NYSE:CBS) earned “Equal-Weight” rating by Barclays Capital on Friday, August 14. The stock has “Hold” rating given by Zacks on Monday, September 7. The rating was maintained by Pivotal Research with “Buy” on Tuesday, August 18. Wunderlich initiated it with “Buy” rating and $72 target price in Friday, October 21 report. The company was maintained on Friday, August 21 by Credit Suisse. The rating was downgraded by Wells Fargo to “Market Perform” on Tuesday, August 18. The firm earned “Outperform” rating on Wednesday, March 9 by Wells Fargo. RBC Capital Markets maintained CBS Corporation (NYSE:CBS) on Tuesday, October 13 with “Top Pick” rating.

About 1.98 million shares traded hands. CBS Corporation (NYSE:CBS) has risen 9.15% since April 21, 2016 and is uptrending. It has outperformed by 3.83% the S&P500.

Insitutional Activity: The institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.02, from 0.89 in 2016Q1. The ratio is positive, 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.

Bnp Paribas Arbitrage last reported 80,829 shares in the company. Mizuho Asset Coltd accumulated 5,767 shares or 0.06% of the stock. Utah Retirement Sys holds 0.11% of its portfolio in CBS Corporation (NYSE:CBS) for 73,718 shares. Guardian last reported 0.05% of its portfolio in the stock. Investec Asset North America last reported 0.21% of its portfolio in the stock. Pinnacle Associates has 0.41% invested in the company for 349,818 shares. Caisse De Depot Et Placement Du Quebec has invested 0.03% of its portfolio in CBS Corporation (NYSE:CBS). Blair William & Communications Il last reported 7,977 shares in the company. Thrivent Financial For Lutherans holds 0% or 12,880 shares in its portfolio. Chieftain Management holds 19.62% or 6.85 million shares in its portfolio. Cibc Ww Incorporated accumulated 0% or 16,992 shares. Connor Clark And Lunn Investment has 36,800 shares for 0.01% of their US portfolio. Deutsche Comml Bank Ag has 0% invested in the company for 3,451 shares. Loring Wolcott & Coolidge Fiduciary Limited Liability Partnership Ma accumulated 270 shares or 0% of the stock. Savings Bank Of America Corporation De owns 14,217 shares or 0% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 10 selling transactions for $5.93 million net activity. Ambrosio Anthony G sold $453,954 worth of stock or 8,500 shares. 5,093 CBS Corporation (NYSE:CBS) shares with value of $266,151 were sold by CALIFANO JOSEPH A. Goldberg Leonard sold 1,698 shares worth $87,909.

CBS Corporation is a mass media company. The company has a market cap of $28.46 billion. The Company’s divisions include Entertainment, Cable Networks, Publishing and Local Broadcasting. It has a 16.57 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.

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.”

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.

More news for CBS Corporation (NYSE:CBS) were recently published by: Prnewswire.com, which released: “CBS Corporation Announces Quarterly Dividend” on November 22, 2016. Reuters.com‘s article titled: “BRIEF-CBS corporation announces quarterly dividend” and published on November 22, 2016 is yet another important article.

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