Imperial Capital Trims CBS (NYSE:CBS) Target Price to $62.00

CBS (NYSE:CBS) had its target price decreased by Imperial Capital from $72.00 to $62.00 in a report issued on Tuesday morning, Briefing.com Automated Import reports. Imperial Capital currently has an outperform rating on the media conglomerate’s stock. Imperial Capital also issued estimates for CBS’s Q3 2019 earnings at $1.35 EPS, Q4 2019 earnings at $1.59 EPS, FY2019 earnings at $5.48 EPS, Q2 2020 earnings at $1.43 EPS, Q3 2020 earnings at $1.61 EPS, Q4 2020 earnings at $1.91 EPS and FY2020 earnings at $6.42 EPS.

CBS has been the subject of a number of other reports. Loop Capital raised their price target on CBS to $65.00 and gave the company a buy rating in a report on Monday, April 22nd. Wolfe Research raised CBS from a peer perform rating to an outperform rating in a report on Thursday, May 30th. TheStreet raised CBS from a c+ rating to a b- rating in a report on Tuesday, April 30th. BMO Capital Markets dropped their price target on CBS from $63.00 to $60.00 and set an outperform rating for the company in a report on Friday, August 9th. Finally, Stephens set a $64.00 price target on CBS and gave the company a buy rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $61.21.

CBS stock opened at $43.80 on Tuesday. The business has a fifty day moving average price of $50.66 and a 200 day moving average price of $49.67. CBS has a fifty-two week low of $41.38 and a fifty-two week high of $59.56. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.69 and a beta of 1.17. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.65 and a quick ratio of 1.16.

CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.03. CBS had a return on equity of 55.03% and a net margin of 20.13%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm posted $1.12 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that CBS will post 5.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a $0.18 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. CBS’s dividend payout ratio (DPR) is currently 13.87%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Nuveen Asset Management LLC increased its stake in shares of CBS by 5,546.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,295,299 shares of the media conglomerate’s stock valued at $164,435,000 after buying an additional 3,236,938 shares during the period. Baupost Group LLC MA increased its stake in shares of CBS by 17.1% in the 2nd quarter. Baupost Group LLC MA now owns 10,000,000 shares of the media conglomerate’s stock valued at $499,000,000 after buying an additional 1,457,984 shares during the period. Holocene Advisors LP acquired a new stake in shares of CBS in the 2nd quarter valued at $62,339,000. Victory Capital Management Inc. increased its stake in shares of CBS by 27.3% in the 2nd quarter. Victory Capital Management Inc. now owns 4,267,052 shares of the media conglomerate’s stock valued at $212,927,000 after buying an additional 916,183 shares during the period. Finally, Sound Shore Management Inc. CT increased its stake in shares of CBS by 26.9% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,672,642 shares of the media conglomerate’s stock valued at $174,561,000 after buying an additional 779,563 shares during the period. 72.56% of the stock is owned by institutional investors.

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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