CBS (NYSE:CBS) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets cut shares of CBS (NYSE:CBS) from an outperform rating to a market perform rating in a research note released on Wednesday morning, BenzingaRatingsTable reports. BMO Capital Markets currently has $51.00 price objective on the media conglomerate’s stock, down from their prior price objective of $60.00.

Several other equities analysts have also recently weighed in on CBS. Loop Capital raised their target price on shares of CBS to $65.00 and gave the company a buy rating in a research note on Monday, April 22nd. Sanford C. Bernstein cut shares of CBS from a market perform rating to an underperform rating in a research note on Tuesday. Barrington Research cut their target price on shares of CBS from $72.00 to $60.00 and set an outperform rating for the company in a research note on Monday, May 6th. TheStreet raised shares of CBS from a c+ rating to a b- rating in a research note on Tuesday, April 30th. Finally, Stephens set a $64.00 price objective on shares of CBS and gave the stock a buy rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $61.21.

CBS opened at $43.80 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.16 and a debt-to-equity ratio of 2.15. CBS has a 1-year low of $41.38 and a 1-year high of $59.56. The company has a market capitalization of $16.73 billion, a PE ratio of 8.44, a PEG ratio of 0.69 and a beta of 1.17. The firm’s 50 day simple moving average is $50.66 and its two-hundred day simple moving average is $49.67.



CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.71 billion. CBS had a net margin of 20.13% and a return on equity of 55.03%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. Equities analysts forecast that CBS will post 5.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued 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 is currently 13.87%.

Several large investors have recently bought and sold shares of the company. Baupost Group LLC MA raised its holdings 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 purchasing an additional 1,457,984 shares in the last quarter. Invesco Ltd. grew its position in CBS by 2.6% during the 2nd quarter. Invesco Ltd. now owns 7,574,879 shares of the media conglomerate’s stock worth $377,986,000 after purchasing an additional 191,415 shares during the last quarter. JPMorgan Chase & Co. grew its position in CBS by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,278,156 shares of the media conglomerate’s stock worth $250,871,000 after purchasing an additional 37,453 shares during the last quarter. Victory Capital Management Inc. grew its position in CBS by 27.3% during the 2nd quarter. Victory Capital Management Inc. now owns 4,267,052 shares of the media conglomerate’s stock worth $212,927,000 after purchasing an additional 916,183 shares during the last quarter. Finally, Investec Asset Management LTD grew its position in CBS by 1.4% during the 1st quarter. Investec Asset Management LTD now owns 3,776,288 shares of the media conglomerate’s stock worth $179,487,000 after purchasing an additional 52,050 shares during the last quarter. Institutional investors and hedge funds own 72.56% 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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