Q4 2017 EPS Estimates for CBS Corporation (CBS) Lowered by Analyst
CBS Corporation (NYSE:CBS) – Analysts at Barrington Research cut their Q4 2017 earnings per share (EPS) estimates for shares of CBS Corporation in a research note issued on Wednesday. Barrington Research analyst J. Goss now expects that the media conglomerate will post earnings per share of $1.22 for the quarter, down from their previous forecast of $1.26. Barrington Research also issued estimates for CBS Corporation’s FY2019 earnings at $6.00 EPS.
Several other equities analysts have also weighed in on the stock. BMO Capital Markets restated an “outperform” rating on shares of CBS Corporation in a report on Friday, May 12th. BidaskClub upgraded shares of CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Pivotal Research reissued a “hold” rating and issued a $67.00 target price on shares of CBS Corporation in a research report on Sunday, April 23rd. Benchmark Co. boosted their target price 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 reissued a “buy” rating and issued a $78.00 target price 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 issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $72.60.
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Shares of CBS Corporation (NYSE CBS) traded up 0.49% during trading on Thursday, hitting $65.67. The stock had a trading volume of 616,006 shares. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The stock’s 50-day moving average is $64.57 and its 200-day moving average is $64.92. The stock has a market cap of $26.38 billion, a price-to-earnings ratio of 167.10 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last issued its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the Zacks’ 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 company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of CBS. Dupont Capital Management Corp purchased a new stake in CBS Corporation during the second quarter valued at $102,000. Israel Discount Bank of New York acquired a new position in shares of CBS Corporation during the first quarter valued at approximately $114,000. Parallel Advisors LLC increased its position in shares of CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after buying an additional 532 shares during the last quarter. Ruggie Capital Group acquired a new position in shares of CBS Corporation during the first quarter valued at approximately $120,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of CBS Corporation during the first quarter valued at approximately $157,000. 75.42% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total value of $520,891.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the completion of the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at approximately $3,865,433.76. 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. Corporate insiders own 1.67% of the company’s stock.
The business also recently disclosed 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 of this dividend is Thursday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. CBS Corporation’s dividend payout ratio is currently 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.
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