CBS Corporation (NYSE:CBS) – Investment analysts at Gabelli dropped their FY2017 earnings per share estimates for CBS Corporation in a research report issued to clients and investors on Tuesday. Gabelli analyst B. Harriss now forecasts that the media conglomerate will post earnings per share of $4.45 for the year, down from their prior forecast of $4.60.

Other analysts have also issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of CBS Corporation in a research report on Friday, May 12th. BidaskClub raised shares of CBS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Pivotal Research reaffirmed a “hold” rating and set a $67.00 price target on shares of CBS Corporation in a research report on Sunday, April 23rd. Benchmark Co. upped their price target on shares of CBS Corporation from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Finally, Guggenheim reaffirmed a “buy” rating and set a $78.00 price target on shares of CBS Corporation in a research report on Tuesday, June 13th. Six 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. CBS Corporation currently has an average rating of “Buy” and a consensus target price of $72.60.

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CBS Corporation (NYSE:CBS) opened at 65.35 on Thursday. The firm has a market cap of $26.25 billion, a price-to-earnings ratio of 166.28 and a beta of 1.71. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10. The stock’s 50 day moving average is $64.57 and its 200 day moving average is $64.92.

CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $0.93 EPS. CBS Corporation’s quarterly revenue was up 9.4% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently modified their holdings of CBS. GSB Wealth Management LLC raised its position in shares of CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock worth $314,000 after buying an additional 12 shares during the period. WASHINGTON TRUST Co raised its position in shares of CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock worth $311,000 after buying an additional 37 shares during the period. 1ST Source Bank raised its position in shares of CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock worth $300,000 after buying an additional 50 shares during the period. Palladium Partners LLC raised its position in shares of CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock worth $244,000 after buying an additional 60 shares during the period. Finally, Osborn Williams & Donohoe LLC raised its position in shares of CBS Corporation by 1.0% in the second quarter. Osborn Williams & Donohoe LLC now owns 10,312 shares of the media conglomerate’s stock worth $658,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 75.42% of the company’s stock.

In related news, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total value of $344,658.00. Following the completion of the transaction, the executive vice president now owns 60,322 shares in the company, valued at approximately $3,945,058.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the completion of the transaction, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,707 shares of company stock valued at $13,961,251. 1.67% of the stock is owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.10%. CBS Corporation’s dividend payout ratio (DPR) is presently 211.76%.

CBS Corporation Company Profile

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.

Earnings History and Estimates for CBS Corporation (NYSE:CBS)

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