CBS (NYSE:CBS) Lowered to “Market Perform” at BMO Capital Markets

BMO Capital Markets cut shares of CBS (NYSE:CBS) from an outperform rating to a market perform rating in a research note released on Wednesday morning, BenzingaRatingsTable reports. They currently have $51.00 price target on the media conglomerate’s stock, down from their prior price target of $60.00.

A number of other analysts have also commented on CBS. TheStreet upgraded CBS from a c+ rating to a b- rating in a report on Tuesday, April 30th. Stephens set a $64.00 target price on CBS and gave the company a buy rating in a research report on Friday, August 9th. Imperial Capital lowered their target price on CBS from $72.00 to $62.00 and set an outperform rating on the stock in a research report on Tuesday, August 13th. Sanford C. Bernstein downgraded CBS from a market perform rating to an underperform rating in a research report on Tuesday, August 13th. Finally, Loop Capital lifted their target price on CBS to $65.00 and gave the company a buy rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $61.21.

Shares of CBS stock opened at $43.80 on Wednesday. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 0.67 and a beta of 1.17. The stock’s 50-day moving average is $50.66 and its 200-day moving average is $49.67. CBS has a one year low of $41.38 and a one year high of $59.56. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.65 and a quick ratio of 1.16.

CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.71 billion. CBS had a return on equity of 55.03% and a net margin of 20.13%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. On average, equities analysts expect that CBS will post 5.52 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, September 9th. CBS’s dividend payout ratio is currently 13.87%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential PLC boosted its holdings in shares of CBS by 26.5% during the second quarter. Prudential PLC now owns 1,822,500 shares of the media conglomerate’s stock worth $90,943,000 after acquiring an additional 381,268 shares during the period. HM Payson & Co. bought a new stake in shares of CBS during the second quarter worth approximately $37,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of CBS by 7.5% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 823,221 shares of the media conglomerate’s stock worth $41,080,000 after acquiring an additional 57,576 shares during the period. United Services Automobile Association boosted its holdings in shares of CBS by 0.5% during the second quarter. United Services Automobile Association now owns 434,229 shares of the media conglomerate’s stock worth $21,668,000 after acquiring an additional 2,291 shares during the period. Finally, Raffles Associates LP boosted its holdings in shares of CBS by 21.9% during the second quarter. Raffles Associates LP now owns 55,613 shares of the media conglomerate’s stock worth $2,775,000 after acquiring an additional 10,000 shares during the period. 72.56% of the stock is currently owned by hedge funds and other institutional investors.

About CBS

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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