Despite CBS (CBS) Q3 Beat Uncertainty in Ad Trends Keeps Nomura Sidelined
Tweet
Share
E-mailGet Alerts CBS Hot Sheet
Price: $40.77 --0%
Rating Summary:
20 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
20 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Join SI Premium – FREE
Nomura Securities maintained a Neutral rating on CBS (NYSE: CBS) and trimmed its price target to $37.00 (from $38.00).
Yesterday CBS reported earnings that topped estimates. The beat was a result of earnings in Entertainment, Cable Networks and Publishing, slightly offset by Outdoor, in an "otherwise low-growth top-line environment", noted a report by analysts at Nomura .
"On the call, CBS commented on the slow start to the fall TV season, calling out a number of comparable issues, but expects ratings to rebound as the season progresses," said analyst Michael Nathanson.
Nathanson said while the company continues to surprise with higher earnings revisions, this is offset by growing uncertainty in underlying advertising trends.
For an analyst ratings summary and ratings history on CBS click here. For more ratings news on CBS click here.
Shares of CBS closed at $34.00 yesterday.
Yesterday CBS reported earnings that topped estimates. The beat was a result of earnings in Entertainment, Cable Networks and Publishing, slightly offset by Outdoor, in an "otherwise low-growth top-line environment", noted a report by analysts at Nomura .
"On the call, CBS commented on the slow start to the fall TV season, calling out a number of comparable issues, but expects ratings to rebound as the season progresses," said analyst Michael Nathanson.
Nathanson said while the company continues to surprise with higher earnings revisions, this is offset by growing uncertainty in underlying advertising trends.
For an analyst ratings summary and ratings history on CBS click here. For more ratings news on CBS click here.
Shares of CBS closed at $34.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Marvell (MRVL) PT Raised to $225 at TD Cowen
- Benchmark Reiterates Buy Rating on H World Group Ltd. (HTHT) Following Q2 Print
- GLJ Research on Sell Rated Tesla (TSLA): 'We now see FSD as the main reason TSLA’s stock will bleed lower this year'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
