CBS (NYSE:CBS) Lowered to “Underperform” at Sanford C. Bernstein

Sanford C. Bernstein cut shares of CBS (NYSE:CBS) from a market perform rating to an underperform rating in a research report released on Tuesday, BenzingaRatingsTable reports.

Other equities research analysts have also issued research reports about the company. Wolfe Research raised CBS from a peer perform rating to an outperform rating in a research note on Thursday, May 30th. Stephens set a $64.00 price objective on CBS and gave the company a buy rating in a research note on Friday, August 9th. UBS Group set a $54.00 price objective on CBS and gave the company a hold rating in a research note on Friday, August 9th. Barrington Research dropped their price objective on CBS from $72.00 to $60.00 and set an outperform rating for the company in a research note on Monday, May 6th. Finally, Imperial Capital dropped their price objective on CBS from $72.00 to $62.00 and set an outperform rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. CBS currently has an average rating of Hold and a consensus target price of $61.21.

NYSE:CBS opened at $43.80 on Tuesday. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.69 and a beta of 1.17. CBS has a 52-week low of $41.38 and a 52-week high of $59.56. The stock has a fifty day moving average of $50.66 and a 200 day moving average of $49.67. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.16 and a current ratio of 1.65.



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

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

Hedge funds have recently modified their holdings of the business. Allstate Corp lifted its stake in CBS by 61.2% during the first quarter. Allstate Corp now owns 10,904 shares of the media conglomerate’s stock worth $518,000 after purchasing an additional 4,141 shares during the last quarter. Tech Square Trading LP bought a new stake in shares of CBS in the 1st quarter valued at about $299,000. Greenwood Capital Associates LLC bought a new stake in shares of CBS in the 1st quarter valued at about $243,000. Oppenheimer & Co. Inc. lifted its stake in shares of CBS by 18.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,288 shares of the media conglomerate’s stock valued at $1,867,000 after acquiring an additional 6,255 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in shares of CBS by 35.1% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,779,282 shares of the media conglomerate’s stock valued at $84,569,000 after acquiring an additional 462,110 shares during the last quarter. 72.56% of the stock is owned by hedge funds and other institutional investors.

CBS Company Profile

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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Analyst Recommendations for CBS (NYSE:CBS)

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