Stephen Colbert to be next host of "The Late Show"...press release coming CBS Tweet (@CBSTweet) April 10, 2014
Current host David Letterman announced his 2015 retirement from the late-night gig earlier in the month. Letterman has held the seat for 21 years.
Colbert is currently host, writer and executive producer of The Colbert Report on Viacom's Comedy Central. The show has been on the air since October 2005.Must Read: Warren Buffett's 10 Favorite Growth Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates CBS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation: "We rate CBS CORP (CBS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results." Highlights from the analysis by TheStreet Ratings Team goes as follows:
- CBS's revenue growth has slightly outpaced the industry average of 4.0%. Since the same quarter one year prior, revenues slightly increased by 5.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 39.65% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, CBS should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- CBS CORP has improved earnings per share by 22.6% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, CBS CORP increased its bottom line by earning $3.01 versus $2.48 in the prior year. This year, the market expects an improvement in earnings ($3.48 versus $3.01).
- The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Media industry average. The net income increased by 19.6% when compared to the same quarter one year prior, going from $393.00 million to $470.00 million.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Media industry and the overall market, CBS CORP's return on equity exceeds that of both the industry average and the S&P 500.
- You can view the full analysis from the report here: CBS Ratings Report