CBS Corporation (CBS) Forecasted to Post Q4 2017 Earnings of $1.22 Per Share
CBS Corporation (NYSE:CBS) – Investment analysts at Jefferies Group lifted their Q4 2017 earnings estimates for CBS Corporation in a report released on Monday. Jefferies Group analyst J. Janedis now expects that the media conglomerate will post earnings per share of $1.22 for the quarter, up from their previous forecast of $1.16. Jefferies Group currently has a “Buy” rating and a $71.00 price objective on the stock. Jefferies Group also issued estimates for CBS Corporation’s Q2 2018 earnings at $1.13 EPS, Q4 2018 earnings at $1.51 EPS, FY2018 earnings at $5.21 EPS and FY2019 earnings at $5.91 EPS.
CBS Corporation (NYSE:CBS) last posted its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 45.31%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share.
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CBS has been the subject of several other reports. BMO Capital Markets reiterated an “outperform” rating on shares of CBS Corporation in a research report on Friday, May 12th. BidaskClub upgraded CBS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Pivotal Research reiterated a “hold” rating and issued a $67.00 price objective on shares of CBS Corporation in a research report on Sunday, April 23rd. Benchmark Co. boosted their price objective on CBS Corporation from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, Guggenheim reiterated a “buy” rating and issued a $78.00 price objective on shares of CBS Corporation in a research report on Tuesday, June 13th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. CBS Corporation has an average rating of “Buy” and an average target price of $72.52.
CBS Corporation (NYSE:CBS) traded down 1.5524% during mid-day trading on Wednesday, hitting $64.6801. 2,166,814 shares of the company traded hands. CBS Corporation has a one year low of $48.88 and a one year high of $70.10. The company’s 50-day moving average price is $64.27 and its 200 day moving average price is $64.86. The company has a market capitalization of $26.26 billion, a price-to-earnings ratio of 52.7570 and a beta of 1.71.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is presently 211.76%.
In related news, CEO Leslie Moonves sold 200,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total value of $12,758,000.00. Following the sale, the chief executive officer now owns 1,232,652 shares in the company, valued at approximately $78,630,871.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,707 shares of company stock worth $13,961,251. 2.03% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of CBS. Glenview Capital Management LLC boosted its stake in CBS Corporation by 6.7% in the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock worth $379,535,000 after buying an additional 343,424 shares during the period. Alliancebernstein L.P. boosted its stake in CBS Corporation by 7.1% in the first quarter. Alliancebernstein L.P. now owns 5,393,198 shares of the media conglomerate’s stock worth $374,072,000 after buying an additional 358,785 shares during the period. Geode Capital Management LLC boosted its stake in CBS Corporation by 3.1% in the first quarter. Geode Capital Management LLC now owns 3,680,166 shares of the media conglomerate’s stock worth $254,889,000 after buying an additional 109,782 shares during the period. FMR LLC boosted its stake in CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after buying an additional 618,593 shares during the period. Finally, Boston Partners boosted its stake in CBS Corporation by 3.0% in the first quarter. Boston Partners now owns 3,242,746 shares of the media conglomerate’s stock worth $224,917,000 after buying an additional 94,956 shares during the period. Institutional investors and hedge funds own 75.42% of the company’s stock.
About CBS Corporation
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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