CBS Co. (NYSE:CBS) – Analysts at Imperial Capital dropped their Q2 2019 EPS estimates for CBS in a report issued on Wednesday, March 13th. Imperial Capital analyst D. Miller now forecasts that the media conglomerate will post earnings per share of $1.23 for the quarter, down from their prior estimate of $1.25. Imperial Capital currently has a “Outperform” rating and a $72.00 target price on the stock. Imperial Capital also issued estimates for CBS’s Q4 2019 earnings at $1.64 EPS, FY2019 earnings at $5.68 EPS, Q1 2020 earnings at $1.53 EPS, Q3 2020 earnings at $1.63 EPS and Q4 2020 earnings at $1.96 EPS.
CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, February 14th. The media conglomerate reported $1.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS.
NYSE CBS opened at $48.24 on Thursday. The stock has a market cap of $18.16 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 3.38. CBS has a one year low of $41.38 and a one year high of $59.59.
Institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its position in shares of CBS by 31.6% during the 3rd quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock worth $1,884,518,000 after purchasing an additional 7,877,689 shares during the last quarter. Capital International Investors increased its position in shares of CBS by 77.7% during the 3rd quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock worth $229,157,000 after purchasing an additional 1,744,200 shares during the last quarter. Investec Asset Management LTD increased its position in shares of CBS by 0.7% during the 4th quarter. Investec Asset Management LTD now owns 3,724,238 shares of the media conglomerate’s stock worth $162,824,000 after purchasing an additional 24,908 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of CBS by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 3,301,372 shares of the media conglomerate’s stock worth $144,337,000 after purchasing an additional 67,034 shares during the last quarter. Finally, Baupost Group LLC MA acquired a new position in shares of CBS during the 4th quarter worth approximately $111,357,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Gary L. Countryman sold 4,584 shares of CBS stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total value of $235,388.40. Following the sale, the director now owns 63,454 shares of the company’s stock, valued at approximately $3,258,362.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Anschell sold 20,730 shares of CBS stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $50.11, for a total value of $1,038,780.30. Following the completion of the sale, the executive vice president now directly owns 23,358 shares in the company, valued at approximately $1,170,469.38. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, March 8th. CBS’s dividend payout ratio is presently 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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