Brokers Set Expectations for CBS Co.’s FY2019 Earnings (NYSE:CBS)

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CBS Co. (NYSE:CBS) – Equities research analysts at G.Research lifted their FY2019 earnings per share (EPS) estimates for shares of CBS in a research note issued to investors on Wednesday, August 14th. G.Research analyst B. Harriss now expects that the media conglomerate will earn $6.05 per share for the year, up from their previous forecast of $5.80.

Several other research analysts have also recently commented on CBS. UBS Group set a $54.00 target price on CBS and gave the stock a “hold” rating in a research note on Friday, August 9th. Bank of America raised CBS from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $63.00 in a research note on Wednesday, August 14th. Wolfe Research raised CBS from a “peer perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Imperial Capital lowered their target price on CBS from $72.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, Benchmark lowered their target price on CBS from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.21.

CBS opened at $44.14 on Monday. CBS has a 12 month low of $41.38 and a 12 month high of $59.56. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.67 and a beta of 1.17. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.65 and a quick ratio of 1.14. The business has a fifty day moving average price of $50.19 and a 200 day moving average price of $49.56.

CBS (NYSE:CBS) last released its earnings results on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. CBS had a return on equity of 55.03% and a net margin of 20.13%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the firm posted $1.12 EPS. CBS’s revenue for the quarter was up 9.7% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, September 9th. CBS’s dividend payout ratio (DPR) is 13.87%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ellevest Inc. purchased a new stake in shares of CBS in the 2nd quarter valued at about $25,000. Horan Capital Advisors LLC. purchased a new stake in shares of CBS in the 1st quarter valued at about $26,000. Whitener Capital Management Inc. lifted its holdings in shares of CBS by 57.1% in the 2nd quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of CBS by 96.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock valued at $27,000 after purchasing an additional 275 shares during the last quarter. Finally, Personal Wealth Partners purchased a new stake in shares of CBS in the 2nd quarter valued at about $29,000. 73.28% of the stock is owned by 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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Earnings History and Estimates for CBS (NYSE:CBS)

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