CBS Co. (NYSE:CBS) – Imperial Capital lowered their Q3 2019 EPS estimates for shares of CBS in a report issued on Friday, October 18th. Imperial Capital analyst D. Miller now anticipates that the media conglomerate will post earnings per share of $1.30 for the quarter, down from their previous forecast of $1.33. Imperial Capital currently has a “Outperform” rating and a $59.00 price objective on the stock. Imperial Capital also issued estimates for CBS’s Q4 2019 earnings at $1.49 EPS, FY2019 earnings at $5.33 EPS, Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.15 EPS, Q3 2020 earnings at $1.37 EPS and Q4 2020 earnings at $1.64 EPS.
Other research analysts also recently issued research reports about the stock. Stephens set a $64.00 target price on shares of CBS and gave the stock a “buy” rating in a report on Wednesday, August 21st. Guggenheim set a $50.00 target price on shares of CBS and gave the stock a “buy” rating in a report on Friday. UBS Group set a $54.00 target price on shares of CBS and gave the stock a “hold” rating in a report on Friday, August 9th. TheStreet cut shares of CBS from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Co started coverage on shares of CBS in a research note on Tuesday, September 24th. They issued an “underperform” rating and a $41.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.80.
CBS (NYSE:CBS) last issued its earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.03. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.71 billion. CBS had a net margin of 20.13% and a return on equity of 55.03%. CBS’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS.
A number of hedge funds have recently made changes to their positions in the business. Denali Advisors LLC acquired a new stake in CBS during the 2nd quarter worth approximately $2,645,000. WINTON GROUP Ltd lifted its holdings in CBS by 50.2% during the 2nd quarter. WINTON GROUP Ltd now owns 731,562 shares of the media conglomerate’s stock worth $36,505,000 after purchasing an additional 244,363 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in CBS by 96.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after purchasing an additional 275 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in CBS by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 19,634 shares of the media conglomerate’s stock worth $980,000 after purchasing an additional 365 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in CBS by 3.7% during the 2nd quarter. Retirement Systems of Alabama now owns 285,995 shares of the media conglomerate’s stock worth $14,271,000 after purchasing an additional 10,244 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.96%. The ex-dividend date was Monday, September 9th. CBS’s payout ratio is currently 13.87%.
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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