Q1 2019 Earnings Forecast for CBS Co. (CBS) Issued By Imperial Capital
CBS Co. (NYSE:CBS) – Stock analysts at Imperial Capital lifted their Q1 2019 earnings per share (EPS) estimates for shares of CBS in a research report issued to clients and investors on Wednesday, March 13th. Imperial Capital analyst D. Miller now forecasts that the media conglomerate will post earnings of $1.40 per share for the quarter, up from their previous forecast of $1.39. Imperial Capital has a “Outperform” rating and a $72.00 price target on the stock. Imperial Capital also issued estimates for CBS’s Q3 2019 earnings at $1.42 EPS, Q2 2020 earnings at $1.46 EPS and FY2020 earnings at $6.58 EPS.
A number of other analysts have also issued reports on the stock. Barrington Research restated a “buy” rating and issued a $72.00 price target on shares of CBS in a research note on Tuesday, February 19th. Benchmark dropped their price target on shares of CBS from $90.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, February 13th. Atlantic Securities lowered shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price target for the company. in a research note on Monday, February 11th. BMO Capital Markets restated a “buy” rating and issued a $63.00 price target on shares of CBS in a research note on Tuesday, February 5th. Finally, Moffett Nathanson upgraded shares of CBS from a “neutral” rating to a “buy” rating in a research note on Thursday, January 17th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. CBS currently has a consensus rating of “Buy” and an average target price of $64.10.
CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.13 billion. CBS had a net margin of 13.50% and a return on equity of 83.61%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors increased its holdings in shares of CBS by 31.6% in the 3rd quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock valued at $1,884,518,000 after purchasing an additional 7,877,689 shares during the period. Capital International Investors increased its holdings in shares of CBS by 77.7% in the 3rd quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock valued at $229,157,000 after purchasing an additional 1,744,200 shares during the period. Investec Asset Management LTD increased its holdings in shares of CBS by 0.7% in the 4th quarter. Investec Asset Management LTD now owns 3,724,238 shares of the media conglomerate’s stock valued at $162,824,000 after purchasing an additional 24,908 shares during the period. Victory Capital Management Inc. increased its holdings in CBS by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 3,301,372 shares of the media conglomerate’s stock worth $144,337,000 after buying an additional 67,034 shares during the last quarter. Finally, Baupost Group LLC MA acquired a new position in CBS in the fourth quarter worth approximately $111,357,000. Institutional investors own 74.58% of the company’s stock.
In other news, EVP Jonathan Anschell sold 20,730 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $50.11, for a total value of $1,038,780.30. Following the transaction, the executive vice president now owns 23,358 shares in the company, valued at approximately $1,170,469.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary L. Countryman sold 4,584 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $51.35, for a total value of $235,388.40. Following the completion of the transaction, the director now owns 63,454 shares in the company, valued at approximately $3,258,362.90. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. CBS’s dividend payout ratio is 13.87%.
CBS Company Profile
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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