CBS Co. (NYSE:CBS) – Equities research analysts at Imperial Capital decreased their FY2018 earnings per share (EPS) estimates for shares of CBS in a note issued to investors on Wednesday, November 14th. Imperial Capital analyst D. Miller now anticipates that the media conglomerate will post earnings per share of $5.27 for the year, down from their previous forecast of $5.28. Imperial Capital has a “Buy” rating on the stock. Imperial Capital also issued estimates for CBS’s Q3 2019 earnings at $1.37 EPS.
CBS (NYSE:CBS) last issued its earnings results on Thursday, November 1st. The media conglomerate reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate 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 net margin of 9.42% and a return on equity of 86.51%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.11 earnings per share.
A number of other brokerages have also recently commented on CBS. Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of CBS in a research report on Friday, November 2nd. Royal Bank of Canada increased their target price on shares of CBS to $70.00 and gave the company a “positive” rating in a research report on Friday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research cut shares of CBS from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of CBS from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, B. Riley upped their price objective on shares of CBS from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $66.51.
Shares of NYSE CBS opened at $57.49 on Friday. The stock has a market capitalization of $21.32 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.73 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 3.76. CBS has a 52 week low of $47.54 and a 52 week high of $61.59.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Tuesday, December 11th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, December 10th. CBS’s dividend payout ratio is currently 17.18%.
In other CBS news, EVP Anthony G. Ambrosio sold 2,100 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $55.16, for a total transaction of $115,836.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total transaction of $198,903.83. Following the transaction, the executive vice president now directly owns 72,702 shares of the company’s stock, valued at approximately $4,192,724.34. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock valued at $1,117,598 in the last three months. 1.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Klingenstein Fields & Co. LLC boosted its stake in CBS by 6.1% during the second quarter. Klingenstein Fields & Co. LLC now owns 445,675 shares of the media conglomerate’s stock worth $25,056,000 after buying an additional 25,649 shares during the period. Inverness Counsel LLC NY purchased a new position in CBS during the second quarter worth about $4,541,000. Capital Advisors Ltd. LLC boosted its stake in CBS by 3,620.8% during the third quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock worth $154,000 after buying an additional 2,607 shares during the period. Mathes Company Inc. purchased a new position in CBS during the second quarter worth about $250,000. Finally, Greenleaf Trust purchased a new position in CBS during the second quarter worth about $240,000. 75.16% of the stock is owned by institutional investors.
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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