Barrington Research Brokers Cut Earnings Estimates for CBS Co. (NYSE:CBS)
CBS Co. (NYSE:CBS) – Equities researchers at Barrington Research decreased their Q4 2019 earnings estimates for CBS in a research report issued to clients and investors on Monday, August 12th. Barrington Research analyst J. Goss now forecasts that the media conglomerate will post earnings of $1.61 per share for the quarter, down from their prior forecast of $1.65. Barrington Research currently has a “Outperform” rating and a $60.00 target price on the stock. Barrington Research also issued estimates for CBS’s Q1 2020 earnings at $1.42 EPS, Q2 2020 earnings at $1.43 EPS, Q4 2020 earnings at $2.07 EPS and FY2021 earnings at $7.25 EPS.
A number of other equities analysts have also weighed in on the stock. Loop Capital upped their target price on shares of CBS to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. TheStreet upgraded shares of CBS from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Bank of America upgraded shares of CBS from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $63.00 in a research report on Wednesday. BMO Capital Markets lowered shares of CBS from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $60.00 to $51.00 in a research report on Wednesday. Finally, Stephens set a $64.00 target price on shares of CBS and gave the stock a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.21.
CBS (NYSE:CBS) last issued its earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.03. CBS had a net margin of 20.13% and a return on equity of 61.57%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. CBS’s revenue for the quarter was up 9.7% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, September 9th. This represents a $0.72 annualized dividend and a yield of 1.66%. CBS’s dividend payout ratio (DPR) is currently 13.87%.
A number of hedge funds have recently added to or reduced their stakes in CBS. Horan Capital Advisors LLC. bought a new position in CBS during the first quarter valued at $26,000. Carroll Financial Associates Inc. lifted its position in CBS by 96.5% during the second 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. Whitener Capital Management Inc. lifted its position in CBS by 57.1% during the second 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. Personal Wealth Partners bought a new position in CBS during the second quarter valued at $29,000. Finally, Weaver Consulting Group bought a new position in CBS during the first quarter valued at $30,000. Institutional investors and hedge funds own 72.56% of the company’s stock.
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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