Imperial Capital Comments on CBS Co.’s Q3 2019 Earnings (NYSE:CBS)

CBS Co. (NYSE:CBS) – Imperial Capital cut their Q3 2019 earnings per share (EPS) estimates for shares of CBS in a report issued on Tuesday, August 13th. Imperial Capital analyst D. Miller now expects that the media conglomerate will post earnings of $1.35 per share for the quarter, down from their previous estimate of $1.41. Imperial Capital has a “Outperform” rating and a $62.00 price target on the stock. Imperial Capital also issued estimates for CBS’s Q4 2019 earnings at $1.59 EPS, FY2019 earnings at $5.48 EPS, Q4 2020 earnings at $1.91 EPS and FY2020 earnings at $6.42 EPS.

Other research analysts have also issued reports about the company. ValuEngine lowered CBS from a “sell” rating to a “strong sell” rating in a research report on Thursday. Stephens set a $64.00 price target on CBS and gave the stock a “buy” rating in a research report on Friday, August 9th. UBS Group set a $54.00 target price on CBS and gave the company a “hold” rating in a report on Friday, August 9th. BMO Capital Markets lowered CBS from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $60.00 to $51.00 in a report on Wednesday. Finally, Bank of America upgraded CBS from a “neutral” rating to a “buy” rating and lifted their target price for the company from $58.00 to $63.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.21.

CBS opened at $43.35 on Wednesday. CBS has a 52 week low of $41.38 and a 52 week high of $59.56. The business has a fifty day simple moving average of $50.76 and a 200-day simple moving average of $49.70. The firm has a market cap of $18.01 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.74 and a beta of 1.17. The company has a quick ratio of 1.16, a current ratio of 1.50 and a debt-to-equity ratio of 2.35.

CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, topping the consensus estimate of $1.13 by $0.03. CBS had a return on equity of 61.57% and a net margin of 20.13%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in the stock. Horan Capital Advisors LLC. purchased a new stake in CBS during the 1st quarter worth about $26,000. Carroll Financial Associates Inc. lifted its holdings in CBS by 96.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after buying an additional 275 shares during the last quarter. Whitener Capital Management Inc. lifted its holdings in CBS by 57.1% during the 2nd quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Personal Wealth Partners purchased a new stake in CBS during the 2nd quarter worth about $29,000. Finally, Weaver Consulting Group purchased a new stake in CBS during the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 72.56% of the company’s stock.

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 issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. CBS’s dividend payout ratio (DPR) is presently 13.87%.

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.

Read More: How does equity income fit into an investing strategy?

Earnings History and Estimates for CBS (NYSE:CBS)

Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.