CBS Set to Report Earnings Under Negative Charts

Media giant CBS Corporation is expected to highlight favorable demand for its content when it reports quarterly earnings after the closing bell on Thursday, Feb. 15. However, this possibility is not reflected in the daily or weekly chart patterns shown below.

The stock closed Tuesday at $54.67, down 7.3% year to date and in correction territory at 11.2% below its 2018 high of $61.59 set on Jan. 18. CBS stock set its 2018 low of $50.63 on Feb. 9 and has rebounded by 8% since then. The stock set its all-time intraday high of $70.09 on April 5, 2017.

Analysts expect CBS to post earnings per share of $1.15 to $1.19 when the television company reports results on Feb. 15. The question is how much shares of CBS can rebound on a positive reaction to earnings. The daily and weekly charts below can help answer this question. Success may involve demand for content such as Showtime’s streaming service and online news channels. (See also: The Contrarian: Does CBS Make Money or Not?)


CBS has an extremely elevated P/E ratio of 73.83, and its dividend yield is a paltry 1.35%. …read more

Read more here: CBS Set to Report Earnings Under Negative Charts

Category: CBS

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