Needham & Co. Stays Bullish on CBS Ahead of Earnings (CBS)

Mass media company CBS Corporation (CBS) on Thursday received some continued bullish sentiment from analysts at Needham & Company.

The firm reiterated its “Buy” rating and $40 price target on CBS, which suggests a 22% upside to the stock’s Wednesday closing price of $32.82.

A Needham analyst commented, “We are maintaining our 2Q12 estimates for CBS. CBS is expected to report 2Q12 revenue of $3.54B (down1% y/y), OIBDA of $864mm (down 1% y/y), and EPS from Continuing Operations of $0.58 (flat y/y).” CBS is slated to deliver its second quarter earnings report on Aug. 2, 2012.

CBS shares fell 19 cents, or -0.6%, in morning trading Thursday.

The Bottom Line
CBS currently offers a 1.22% dividend yield, based on Tuesday’s closing price of $32.82 and the company’s annualized dividend payout of 40 cents per share.

CBS Corporation (CBS) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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