Q3 2017 EPS Estimates for CBS Corporation (CBS) Lifted by Jefferies Group
CBS Corporation (NYSE:CBS) – Investment analysts at Jefferies Group lifted their Q3 2017 earnings per share estimates for CBS Corporation in a research report issued on Monday. Jefferies Group analyst J. Janedis now expects that the media conglomerate will post earnings per share of $1.18 for the quarter, up from their prior estimate of $1.10. Jefferies Group currently has a “Buy” rating and a $73.00 target price on the stock. Jefferies Group also issued estimates for CBS Corporation’s FY2017 earnings at $4.50 EPS, Q3 2018 earnings at $1.38 EPS, Q1 2019 earnings at $1.44 EPS and Q2 2019 earnings at $1.31 EPS.
CBS Corporation (NYSE:CBS) last posted its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. CBS Corporation’s revenue for the quarter was up 9.4% on a year-over-year basis. WARNING: “Q3 2017 EPS Estimates for CBS Corporation (CBS) Lifted by Jefferies Group” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/10/q3-2017-eps-estimates-for-cbs-corporation-cbs-lifted-by-jefferies-group.html.
Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of CBS Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets reiterated a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research note on Tuesday. Royal Bank Of Canada set a $75.00 price target on shares of CBS Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Cowen and Company reiterated an “outperform” rating and set a $70.00 price target on shares of CBS Corporation in a research note on Monday, May 15th. Finally, Needham & Company LLC lifted their price target on shares of CBS Corporation from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. CBS Corporation presently has an average rating of “Buy” and a consensus target price of $72.60.
CBS Corporation (NYSE:CBS) opened at 65.35 on Thursday. The stock has a market cap of $26.53 billion, a P/E ratio of 53.30 and a beta of 1.71. The company has a 50-day moving average price of $64.57 and a 200 day moving average price of $64.92. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date 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 is currently 211.76%.
In other news, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total value of $344,658.00. Following the sale, the executive vice president now directly owns 60,322 shares in the company, valued at approximately $3,945,058.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,707 shares of company stock worth $13,961,251. 1.67% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new stake in CBS Corporation during the second quarter worth $102,000. Israel Discount Bank of New York acquired a new stake in CBS Corporation during the first quarter worth $114,000. Ruggie Capital Group acquired a new stake in CBS Corporation during the first quarter worth $120,000. Parallel Advisors LLC increased its stake in CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after buying an additional 532 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in CBS Corporation during the first quarter worth $157,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.
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.
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