CBS Co. (NYSE:CBS) – Equities researchers at Gabelli lowered their FY2019 earnings per share estimates for shares of CBS in a research report issued on Monday, November 5th. Gabelli analyst B. Harriss now forecasts that the media conglomerate will earn $5.75 per share for the year, down from their prior estimate of $5.85. Gabelli also issued estimates for CBS’s FY2020 earnings at $7.10 EPS, FY2021 earnings at $8.05 EPS and FY2022 earnings at $9.65 EPS.
CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. CBS had a return on equity of 86.51% and a net margin of 9.42%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS.
CBS has been the subject of a number of other reports. Royal Bank of Canada set a $63.00 price target on CBS and gave the stock a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a report on Friday, October 26th. ValuEngine upgraded CBS from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Pivotal Research reiterated a “hold” rating and set a $53.00 price target on shares of CBS in a report on Tuesday, July 31st. Finally, Imperial Capital raised their target price on CBS from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. CBS has an average rating of “Buy” and a consensus price target of $66.51.
NYSE CBS opened at $57.30 on Tuesday. The firm has a market cap of $21.12 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.71 and a beta of 1.19. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.51 and a quick ratio of 1.05. CBS has a twelve month low of $47.54 and a twelve month high of $61.59.
Hedge funds have recently bought and sold shares of the business. Squar Milner Financial Services LLC acquired a new stake in CBS in the 2nd quarter valued at about $122,000. Chicago Partners Investment Group LLC raised its position in CBS by 95.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,257 shares of the media conglomerate’s stock valued at $122,000 after purchasing an additional 1,100 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in CBS by 3,620.8% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock valued at $154,000 after purchasing an additional 2,607 shares in the last quarter. Atria Investments LLC acquired a new stake in CBS in the 3rd quarter valued at about $202,000. Finally, Greenleaf Trust acquired a new stake in CBS in the 2nd quarter valued at about $240,000. 74.82% of the stock is currently owned by institutional investors.
In other CBS news, EVP Anthony G. Ambrosio sold 2,100 shares of the stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $55.16, for a total value of $115,836.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Anthony G. Ambrosio sold 2,234 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $58.16, for a total value of $129,929.44. Following the completion of the sale, the executive vice president now directly owns 74,703 shares in the company, valued at approximately $4,344,726.48. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $1,117,598 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
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