Research Analysts Set Expectations for CBS Corp.’s FY2018 Earnings (CBS)
CBS Corp. (NYSE:CBS) – Research analysts at Barrington Research boosted their FY2018 earnings per share estimates for CBS Corp. in a research note issued to investors on Monday. Barrington Research analyst J. Goss now expects that the firm will post earnings per share of $5.10 for the year, up from their previous estimate of $5.05.
A number of other equities research analysts have also commented on CBS. Wells Fargo & Co. reiterated an “outperform” rating on shares of CBS Corp. in a report on Saturday, June 25th. Morgan Stanley reissued an “overweight” rating on shares of CBS Corp. in a research report on Wednesday, June 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of CBS Corp. in a research report on Thursday, June 30th. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a research report on Saturday, July 2nd. Finally, Brean Capital initiated coverage on shares of CBS Corp. in a research report on Thursday, July 7th. They set a “buy” rating and a $65.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $62.64.
CBS Corp. (NYSE:CBS) traded down 0.29% during midday trading on Tuesday, hitting $55.23. 2,740,659 shares of the stock traded hands. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 16.34 and a beta of 1.81. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22. The stock’s 50-day moving average price is $53.07 and its 200 day moving average price is $53.83.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company earned $3.29 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the company posted $0.74 earnings per share. CBS Corp.’s revenue for the quarter was up 2.1% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in CBS. Virginia Retirement System acquired a new position in CBS Corp. during the first quarter worth $387,000. NN Investment Partners Holdings N.V. acquired a new position in CBS Corp. during the first quarter worth $141,000. M&T Bank Corp raised its position in CBS Corp. by 3.2% in the first quarter. M&T Bank Corp now owns 77,649 shares of the media conglomerate’s stock worth $4,278,000 after buying an additional 2,404 shares during the period. Aviva PLC raised its position in CBS Corp. by 0.7% in the first quarter. Aviva PLC now owns 260,034 shares of the media conglomerate’s stock worth $14,325,000 after buying an additional 1,839 shares during the period. Finally, AMF Pensionsforsakring AB raised its position in CBS Corp. by 2.8% in the first quarter. AMF Pensionsforsakring AB now owns 43,890 shares of the media conglomerate’s stock worth $2,418,000 after buying an additional 1,200 shares during the period. 76.80% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were issued a dividend of $0.18 per share. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, September 7th. CBS Corp.’s dividend payout ratio (DPR) is 21.30%.
About CBS Corp.
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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