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CBS Earnings In Retrospect: Up 1.4% in the Last 16 Days (CBS)

Published on Sat, 03/02/2013 - 09:09
By Robert Cotter

16 days ago, on February 14th, 2013, CBS (NYSE:CBS) reported its earnings. Analysts, on average, expected earnings of $0.69 per share on sales of $3.9 billion. CBS actually reported earnings of $0.64 per share on sales of $3.7 billion, missing EPS estimates by $0.05 and missing revenue estimates by $155.1 million. Shares of CBS have climbed from $42.94 to $43.55, representing a gain of 1.4% since the company reported earnings 16 days ago.

Potential upside of 11.5% exists for CBS, based on a current level of $43.55 and analysts' average consensus price target of $48.56. The stock should find initial support at its 50-day moving average (MA) of $40.70 and further support at its 200-day MA of $35.68.

Over the past year, CBS has traded in a range of $28.85 to $45.87 and closed Thursday at $43.55, 51% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.9% while the 200-day MA has risen 0.7%.

CBS Corporation is a multimedia company that operates broadcasting, television production, and publishing businesses. The Company operates television and radio stations, produces and syndicates television programs, publishes books, provides online content as well as provides outdoor advertising.

By Robert Cotter
rcotter@fnno.com

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