Barrington Research Cuts CBS (CBS) Price Target to $60.00

CBS (NYSE:CBS) had its price objective cut by Barrington Research from $72.00 to $60.00 in a report published on Monday, May 6th, The Fly reports. They currently have an outperform rating on the media conglomerate’s stock. Barrington Research also issued estimates for CBS’s Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $1.36 EPS, Q4 2019 earnings at $1.70 EPS, FY2019 earnings at $5.62 EPS, Q1 2020 earnings at $1.50 EPS, Q2 2020 earnings at $1.48 EPS and FY2021 earnings at $7.35 EPS.

Several other research analysts have also commented on CBS. Atlantic Securities lowered shares of CBS from an overweight rating to a neutral rating and set a $56.00 price objective for the company. in a report on Monday, February 11th. Loop Capital increased their price target on shares of CBS to $65.00 and gave the stock a buy rating in a research note on Monday, April 22nd. BMO Capital Markets reiterated a buy rating and issued a $63.00 price target on shares of CBS in a research note on Tuesday, February 5th. Moffett Nathanson upgraded shares of CBS from a neutral rating to a buy rating in a research note on Thursday, January 17th. Finally, Benchmark decreased their price target on shares of CBS from $90.00 to $71.00 and set a buy rating for the company in a research note on Wednesday, February 13th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $62.93.

CBS traded up $1.48 during trading on Monday, hitting $48.20. 3,451,621 shares of the stock traded hands, compared to its average volume of 2,811,136. The stock has a market capitalization of $17.85 billion, a P/E ratio of 9.29, a PEG ratio of 0.69 and a beta of 1.26. 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 has a 12-month low of $41.38 and a 12-month high of $59.59.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.01). The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.31 billion. CBS had a net margin of 20.32% and a return on equity of 66.79%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. Sell-side analysts expect that CBS will post 5.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, June 7th. CBS’s payout ratio is 13.87%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Standard Life Aberdeen plc raised its position in shares of CBS by 8.0% during the third quarter. Standard Life Aberdeen plc now owns 125,617 shares of the media conglomerate’s stock valued at $7,217,000 after buying an additional 9,332 shares during the last quarter. Legal & General Group Plc raised its position in shares of CBS by 4.0% during the third quarter. Legal & General Group Plc now owns 1,582,959 shares of the media conglomerate’s stock valued at $90,941,000 after buying an additional 60,956 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of CBS by 482.2% during the third quarter. Federated Investors Inc. PA now owns 195,429 shares of the media conglomerate’s stock valued at $11,228,000 after buying an additional 161,863 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of CBS during the fourth quarter valued at approximately $242,000. Finally, New England Research & Management Inc. bought a new stake in shares of CBS during the fourth quarter valued at approximately $400,000. Institutional investors own 73.25% of the company’s stock.

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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