CBS Co. (NYSE:CBS) – Investment analysts at Imperial Capital cut their Q2 2019 earnings per share (EPS) estimates for shares of CBS in a research note issued on Friday, October 26th, according to Zacks Investment Research. Imperial Capital analyst D. Miller now forecasts that the media conglomerate will earn $1.32 per share for the quarter, down from their prior forecast of $1.33. Imperial Capital has a “Buy” rating on the stock. Imperial Capital also issued estimates for CBS’s Q3 2019 earnings at $1.34 EPS, Q4 2019 earnings at $1.59 EPS and FY2019 earnings at $5.88 EPS.
CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.02. The company had revenue of $3.26 billion for 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%. CBS’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS.
CBS has been the topic of a number of other reports. Royal Bank of Canada set a $63.00 price objective on CBS and gave the company a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research raised 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 research report on Friday, September 7th. Pivotal Research restated a “hold” rating and set a $53.00 price target on shares of CBS in a research report on Tuesday, July 31st. Finally, Barrington Research restated a “buy” rating and set a $73.00 price target on shares of CBS in a research report on Monday, September 10th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. CBS currently has a consensus rating of “Buy” and an average price target of $66.51.
Shares of NYSE CBS traded up $0.85 during trading hours on Monday, reaching $53.73. 3,039,709 shares of the stock traded hands, compared to its average volume of 2,874,758. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.68 and a beta of 1.19. The company has a current ratio of 1.51, a quick ratio of 1.05 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Tuesday, December 11th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. CBS’s dividend payout ratio is currently 17.18%.
In other news, EVP Anthony G. Ambrosio sold 11,697 shares of CBS stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $57.53, for a total value of $672,928.41. Following the sale, the executive vice president now directly owns 80,950 shares in the company, valued at approximately $4,657,053.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony G. Ambrosio sold 2,100 shares of CBS stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $55.16, for a total value of $115,836.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,480 shares of company stock worth $1,117,598. Corporate insiders own 1.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Squar Milner Financial Services LLC purchased a new position in shares of CBS in the 2nd quarter valued at approximately $122,000. Chicago Partners Investment Group LLC raised its stake in CBS by 95.1% during the third quarter. Chicago Partners Investment Group LLC now owns 2,257 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 1,100 shares during the last quarter. Capital Advisors Ltd. LLC raised 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 valued at $154,000 after buying an additional 2,607 shares during the last quarter. Atria Investments LLC purchased a new position in CBS during the third quarter valued at $202,000. Finally, Trustcore Financial Services LLC raised its stake in CBS by 455.0% during the third quarter. Trustcore Financial Services LLC now owns 4,007 shares of the media conglomerate’s stock valued at $230,000 after buying an additional 3,285 shares during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.
CBS Company Profile
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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