CBS Co. to Post Q1 2019 Earnings of $1.40 Per Share, Imperial Capital Forecasts (CBS)
CBS Co. (NYSE:CBS) – Stock analysts at Imperial Capital upped their Q1 2019 EPS estimates for shares of CBS in a research note issued to investors on Wednesday, March 13th. Imperial Capital analyst D. Miller now forecasts that the media conglomerate will post earnings per share of $1.40 for the quarter, up from their prior forecast of $1.39. Imperial Capital currently has a “Outperform” rating and a $72.00 target price 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.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.03). CBS had a return on equity of 83.61% and a net margin of 13.50%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year.
NYSE:CBS opened at $48.24 on Friday. The company has a market capitalization of $18.16 billion, a PE ratio of 9.29, a P/E/G ratio of 0.66 and a beta of 1.26. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.48 and a quick ratio of 1.04. CBS has a 1 year low of $41.38 and a 1 year high of $59.59.
Large investors have recently modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of CBS by 31.6% in the third 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. Baupost Group LLC MA purchased a new position in CBS during the 4th quarter worth $111,357,000. Capital International Investors increased its holdings in CBS by 77.7% during the 3rd quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock worth $229,157,000 after purchasing an additional 1,744,200 shares during the period. State Treasurer State of Michigan raised its position in CBS by 566.9% during the 4th quarter. State Treasurer State of Michigan now owns 672,427 shares of the media conglomerate’s stock valued at $29,399,000 after purchasing an additional 571,600 shares in the last quarter. Finally, Capital Guardian Trust Co. bought a new stake in CBS during the 3rd quarter valued at $30,851,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.
In other CBS news, 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 transaction, the director now directly owns 63,454 shares in the company, valued at approximately $3,258,362.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $1,038,780.30. Following the completion of the transaction, the executive vice president now owns 23,358 shares in the company, valued at $1,170,469.38. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
The business also recently declared 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, March 8th. CBS’s payout ratio is presently 13.87%.
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.
Further Reading: Sell-Side Analysts
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