CBS Corporation (CBS): Today's Featured Media Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

CBS Corporation ( CBS) pushed the Media industry lower today making it today's featured Media laggard. The industry as a whole closed the day up 0.2%. By the end of trading, CBS Corporation fell $0.69 (-1.5%) to $46.06 on light volume. Throughout the day, 4,440,971 shares of CBS Corporation exchanged hands as compared to its average daily volume of 6,687,000 shares. The stock ranged in price between $45.94-$47.14 after having opened the day at $46.88 as compared to the previous trading day's close of $46.75. Other companies within the Media industry that declined today were: Media General ( MEG), down 15.1%, McClatchy Company ( MNI), down 4.3%, Imax Corporation ( IMAX), down 2.9% and Entravision Communications Corporation ( EVC), down 2.8%.
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CBS Corporation, together with its subsidiaries, operates as a mass media company in the United States and internationally. CBS Corporation has a market cap of $26.8 billion and is part of the services sector. The company has a P/E ratio of 18.9, above the S&P 500 P/E ratio of 17.7. Shares are up 22.9% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates CBS Corporation as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, notable return on equity, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the positive front, Point.360 ( PTSX), down 12.4%, Spanish Broadcasting System ( SBSA), down 7.3%, Millennial Media ( MM), down 7.2% and ChinaNet Online Holdings ( CNET), down 5.6% , were all gainers within the media industry with Pandora Media ( P) being today's featured media industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the media industry could consider PowerShares Dynamic Media ( PBS) while those bearish on the media industry could consider ProShares Ultra Sht Consumer Services ( SCC).

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