CBS Co. (NYSE:CBS) – Barrington Research reduced their Q2 2018 earnings estimates for shares of CBS in a research report issued to clients and investors on Monday, April 16th. Barrington Research analyst J. Goss now expects that the media conglomerate will post earnings of $1.14 per share for the quarter, down from their previous forecast of $1.15. Barrington Research also issued estimates for CBS’s Q4 2018 earnings at $1.59 EPS, FY2018 earnings at $5.20 EPS and FY2019 earnings at $5.90 EPS.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.71 billion. CBS had a net margin of 2.61% and a return on equity of 67.23%. CBS’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share.
Several other research firms have also weighed in on CBS. Loop Capital initiated coverage on shares of CBS in a report on Thursday, March 15th. They issued a “buy” rating and a $75.00 target price on the stock. Citigroup decreased their target price on shares of CBS from $71.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 28th. TheStreet lowered shares of CBS from a “b” rating to a “c” rating in a report on Thursday, February 15th. Zacks Investment Research upgraded shares of CBS from a “sell” rating to a “hold” rating in a report on Monday, January 8th. Finally, Wells Fargo reiterated an “outperform” rating and issued a $70.00 target price (down from $75.00) on shares of CBS in a report on Thursday, January 4th. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $69.19.
NYSE:CBS opened at $50.90 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 4.78. The stock has a market capitalization of $19,162.74, a price-to-earnings ratio of 11.54, a PEG ratio of 0.68 and a beta of 1.47. CBS has a 1-year low of $49.24 and a 1-year high of $69.31.
A number of institutional investors and hedge funds have recently made changes to their positions in CBS. Focused Investors LLC increased its stake in CBS by 57.9% during the 4th quarter. Focused Investors LLC now owns 2,565,400 shares of the media conglomerate’s stock worth $151,359,000 after buying an additional 940,500 shares during the period. Victory Capital Management Inc. increased its stake in CBS by 26.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,577,959 shares of the media conglomerate’s stock worth $211,100,000 after buying an additional 744,366 shares during the period. TIAA CREF Investment Management LLC increased its stake in CBS by 10.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,529,331 shares of the media conglomerate’s stock worth $267,231,000 after buying an additional 443,907 shares during the period. Klingenstein Fields & Co. LLC purchased a new stake in CBS during the 4th quarter worth approximately $26,182,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in CBS by 242.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 625,411 shares of the media conglomerate’s stock worth $36,899,000 after buying an additional 442,811 shares during the period. 77.91% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $59.07, for a total transaction of $5,020,950.00. Following the sale, the chief executive officer now directly owns 971,448 shares of the company’s stock, valued at approximately $57,383,433.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total transaction of $144,312.00. Following the sale, the chief operating officer now directly owns 320,723 shares in the company, valued at $19,285,073.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 391,284 shares of company stock worth $21,408,918. Company insiders own 1.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Friday, March 9th were issued a $0.18 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. CBS’s dividend payout ratio is currently 17.18%.
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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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