Q3 2019 EPS Estimates for CBS Co. (NYSE:CBS) Reduced by Analyst

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CBS Co. (NYSE:CBS) – Equities research analysts at Imperial Capital dropped their Q3 2019 earnings per share estimates for shares of CBS in a research note issued on Friday, October 18th. Imperial Capital analyst D. Miller now forecasts that the media conglomerate will post earnings of $1.30 per share for the quarter, down from their previous forecast of $1.33. Imperial Capital has a “Outperform” rating and a $59.00 price objective on the stock. Imperial Capital also issued estimates for CBS’s Q4 2019 earnings at $1.49 EPS, FY2019 earnings at $5.33 EPS, Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.15 EPS, Q3 2020 earnings at $1.37 EPS and Q4 2020 earnings at $1.64 EPS.

A number of other brokerages also recently commented on CBS. Sanford C. Bernstein reduced their price objective on shares of CBS from $46.00 to $35.00 and set an “underperform” rating for the company in a research note on Tuesday, September 3rd. Guggenheim set a $50.00 price objective on shares of CBS and gave the stock a “buy” rating in a research note on Friday, October 18th. Benchmark reduced their price objective on shares of CBS from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Stephens set a $64.00 price objective on shares of CBS and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, TheStreet downgraded shares of CBS from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.88.

Shares of NYSE:CBS opened at $36.34 on Monday. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19. CBS has a 52 week low of $35.76 and a 52 week high of $59.56. The company has a quick ratio of 1.14, a current ratio of 1.65 and a debt-to-equity ratio of 2.15. The firm has a 50 day moving average of $40.48 and a 200 day moving average of $47.03.

CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.71 billion. CBS had a net margin of 20.13% and a return on equity of 55.03%. CBS’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share.

Several hedge funds have recently modified their holdings of CBS. Ellevest Inc. acquired a new position in shares of CBS during the second quarter worth $25,000. Carroll Financial Associates Inc. increased its position in shares of CBS by 96.5% during the second quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after purchasing an additional 275 shares in the last quarter. Whitener Capital Management Inc. increased its position in shares of CBS by 57.1% during the second quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Personal Wealth Partners acquired a new position in shares of CBS during the second quarter worth $29,000. Finally, NEXT Financial Group Inc grew its holdings in shares of CBS by 70.2% during the second quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock valued at $30,000 after buying an additional 245 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Monday, September 9th. CBS’s payout ratio is presently 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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Earnings History and Estimates for CBS (NYSE:CBS)

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