(CBS) Shares Sold by M&T Bank Corp

Esequiel Farfan
May 17, 2018

During the same period last year, the business posted $1.04 EPS. research analysts forecast that CBS Co. will post 5.21 EPS for the current fiscal year.

Wall Street analysts expect that CBS Co. Markston International LLC bought a new stake in shares of CBS during the 1st quarter worth $100,000. The lowest EPS estimate is $1.15 and the highest is $1.26. It fall, as 80 investors sold CBS Corporation shares while 278 reduced holdings.

CBS (NYSE:CBS) last announced its earnings results on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. CBS had a net margin of 7.94% and a return on equity of 77.15%. Under the change, the dividend requires 12 of CBS' 14 directors to approve the dividend. During the same quarter in the prior year, the company posted $1.04 EPS.

A number of research analysts recently commented on CBS shares.

NAI dismissed CBS' view in the Wednesday brief, saying it was "based on unsourced media reports and conjecture". BMO Capital Markets dropped their price target on CBS from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 21st. The stock of CBS Corporation (NYSE:CBS) earned "Buy" rating by Stephens on Tuesday, January 2. Finally, ValuEngine lowered CBS from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company now has an average rating of "Buy" and a consensus target price of $69.19.

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In other CBS news, CEO Leslie Moonves sold 85,000 shares of the firm's stock in a transaction dated Tuesday, March 20th.

That step is important because CBS had planned to hold a special board meeting on Thursday for directors to vote on issuing a stock dividend that would have the effect of diluting Redstone's voting shares in the company from 76.4% to about 17%. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 330,000 shares of company stock worth $17,174,900 over the last 90 days.

Institutional investors and hedge funds have recently modified their holdings of the business.

M&T Bank Corp decreased its stake in CBS Co. Arrowstreet Capital Limited Partnership now owns 625,411 shares of the media conglomerate's stock valued at $36,899,000 after buying an additional 442,811 shares during the period. Victory Capital Management Inc. grew its stake in shares of CBS by 26.3% in the fourth quarter. Osborn Williams & Donohoe LLC raised its holdings in CBS by 11.1% in the 4th quarter. Focused Investors LLC now owns 2,565,400 shares of the media conglomerate's stock valued at $151,359,000 after acquiring an additional 940,500 shares during the period. Finally, Mackay Shields LLC bought a new position in shares of CBS during the 1st quarter valued at $3,007,000. Teachers Advisors LLC now owns 1,437,701 shares of the media conglomerate's stock worth $84,824,000 after purchasing an additional 48,036 shares in the last quarter. Schwab Charles Investment Management Inc. now owns 1,411,688 shares of the media conglomerate's stock worth $83,290,000 after purchasing an additional 39,897 shares in the last quarter. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.13 and a current ratio of 1.52. The company has a market cap of $19,124.47, a P/E ratio of 11.51, a PEG ratio of 0.70 and a beta of 1.47. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%.

Shari Redstone's National Amusements Inc. made a move Wednesday to help protect its voting rights at CBS as the network seeks to dilute NAI's majority ownership. 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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