Barrington Research Reaffirms “Buy” Rating for CBS (CBS)

Barrington Research restated their buy rating on shares of CBS (NYSE:CBS) in a report issued on Monday, February 4th. They currently have a $72.00 price objective on the media conglomerate’s stock. Barrington Research also issued estimates for CBS’s Q4 2018 earnings at $1.51 EPS, FY2018 earnings at $5.21 EPS, FY2019 earnings at $5.80 EPS and FY2020 earnings at $6.75 EPS.

Several other brokerages also recently issued reports on CBS. Royal Bank of Canada upped their price objective on shares of CBS to $70.00 and gave the company a positive rating in a research note on Friday, November 2nd. They noted that the move was a valuation call. Benchmark reaffirmed a buy rating and set a $90.00 price target on shares of CBS in a research report on Friday, November 2nd. Zacks Investment Research lowered shares of CBS from a hold rating to a sell rating in a research report on Tuesday, October 9th. ValuEngine raised shares of CBS from a sell rating to a hold rating in a research report on Tuesday, October 9th. Finally, Imperial Capital reissued a buy rating on shares of CBS in a research report on Monday, November 5th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. CBS currently has a consensus rating of Buy and an average target price of $64.10.

CBS stock traded up $0.58 during trading on Monday, reaching $50.79. 2,426,075 shares of the company were exchanged, compared to its average volume of 2,688,632. The company has a market cap of $19.28 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.66 and a beta of 1.32. CBS has a 52-week low of $41.38 and a 52-week high of $59.59. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 3.38.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.03). The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.13 billion. CBS had a net margin of 13.50% and a return on equity of 83.61%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. On average, equities research analysts expect that CBS will post 5.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.72 annualized dividend and a yield of 1.42%. CBS’s payout ratio is 13.87%.

In other CBS news, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $51.35, for a total transaction of $235,388.40. Following the transaction, the director now owns 63,454 shares of the company’s stock, valued at approximately $3,258,362.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.51% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CBS. Princeton Global Asset Management LLC acquired a new position in shares of CBS in the fourth quarter worth about $28,000. Lindbrook Capital LLC acquired a new stake in shares of CBS during the fourth quarter worth approximately $28,000. Trust Co. of Vermont boosted its holdings in shares of CBS by 64.6% during the fourth quarter. Trust Co. of Vermont now owns 1,098 shares of the media conglomerate’s stock worth $48,000 after purchasing an additional 431 shares during the period. Bruderman Asset Management LLC boosted its holdings in shares of CBS by 787.9% during the fourth quarter. Bruderman Asset Management LLC now owns 1,394 shares of the media conglomerate’s stock worth $61,000 after purchasing an additional 1,237 shares during the period. Finally, Exane Asset Management bought a new position in CBS during the fourth quarter valued at approximately $67,000. 74.45% of the stock is currently owned by institutional investors.

About CBS

CBS Corporation operates as a mass media company worldwide. The company operates through 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, acquires, and distributes theatrical motion pictures; and digital streaming services.

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