Macquarie Brokers Decrease Earnings Estimates for CBS Co. (CBS)

CBS Co. (NYSE:CBS) – Investment analysts at Macquarie dropped their Q2 2018 earnings per share (EPS) estimates for shares of CBS in a report issued on Monday, April 9th. Macquarie analyst T. Nollen now expects that the media conglomerate will earn $1.14 per share for the quarter, down from their previous forecast of $1.15. Macquarie currently has a “Neutral” rating and a $60.00 target price on the stock. Macquarie also issued estimates for CBS’s Q4 2018 earnings at $1.62 EPS, Q2 2019 earnings at $1.33 EPS, Q3 2019 earnings at $1.38 EPS and Q4 2019 earnings at $1.74 EPS.

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CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, February 15th. The media conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. CBS had a return on equity of 67.23% and a net margin of 2.61%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis.

CBS has been the topic of a number of other reports. B. Riley decreased their price objective on CBS from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada set a $71.00 target price on CBS and gave the company a “buy” rating in a research report on Saturday, February 17th. Stephens initiated coverage on CBS in a research report on Thursday, December 14th. They set an “overweight” rating and a $70.00 target price for the company. Pivotal Research reiterated a “hold” rating and set a $64.00 target price on shares of CBS in a research report on Friday, February 16th. Finally, Citigroup cut their target price on CBS from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $69.19.

Shares of NYSE CBS opened at $50.06 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.12 and a debt-to-equity ratio of 4.78. CBS has a one year low of $49.24 and a one year high of $69.31. The firm has a market capitalization of $19,947.31, a price-to-earnings ratio of 11.95, a PEG ratio of 0.76 and a beta of 1.47.

A number of institutional investors have recently bought and sold shares of the business. Parsons Capital Management Inc. RI raised its position in CBS by 10.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock valued at $622,000 after purchasing an additional 1,005 shares during the last quarter. Osborn Williams & Donohoe LLC raised its position in CBS by 11.1% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 10,986 shares of the media conglomerate’s stock valued at $648,000 after purchasing an additional 1,095 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in CBS by 2.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 67,044 shares of the media conglomerate’s stock valued at $3,956,000 after purchasing an additional 1,406 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in CBS by 5.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 28,372 shares of the media conglomerate’s stock valued at $1,674,000 after purchasing an additional 1,437 shares during the last quarter. Finally, Ellington Management Group LLC raised its position in CBS by 37.0% in the fourth quarter. Ellington Management Group LLC now owns 6,300 shares of the media conglomerate’s stock valued at $372,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 77.93% of the company’s stock.

In related news, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 320,723 shares in the company, valued at approximately $19,285,073.99. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Joseph R. Ianniello sold 2,263 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $60.00, for a total value of $135,780.00. Following the completion of the transaction, the chief operating officer now owns 551,494 shares of the company’s stock, valued at $33,089,640. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,284 shares of company stock valued at $17,069,668. 1.67% of the stock is owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 9th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. CBS’s dividend payout ratio is currently 17.18%.

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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.

Earnings History and Estimates for CBS (NYSE:CBS)

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