Q3 2017 EPS Estimates for CBS Corporation (CBS) Increased by Analyst
CBS Corporation (NYSE:CBS) – Stock analysts at Barrington Research increased their Q3 2017 EPS estimates for CBS Corporation in a research report issued to clients and investors on Wednesday. Barrington Research analyst J. Goss now expects that the media conglomerate will earn $1.13 per share for the quarter, up from their previous forecast of $1.12. Barrington Research also issued estimates for CBS Corporation’s FY2017 earnings at $4.45 EPS, Q1 2018 earnings at $1.21 EPS, Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.30 EPS and Q4 2018 earnings at $1.43 EPS.
A number of other brokerages have also weighed in on CBS. Pivotal Research reiterated a “hold” rating and set a $67.00 target price on shares of CBS Corporation in a research report on Sunday, April 23rd. Rosenblatt Securities increased their target price on shares of CBS Corporation to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 17th. Guggenheim reiterated a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a research report on Friday, April 14th. Needham & Company LLC increased their target price on shares of CBS Corporation from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, BidaskClub upgraded shares of CBS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. 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. The company has a consensus rating of “Buy” and an average price target of $72.94.
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Shares of CBS Corporation (NYSE CBS) opened at 66.19 on Friday. The stock’s 50 day moving average is $64.67 and its 200-day moving average is $64.93. The firm has a market cap of $26.59 billion, a PE ratio of 168.42 and a beta of 1.71. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The company 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 49.51%. CBS Corporation’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is currently 211.76%.
In other CBS Corporation news, CEO Leslie Moonves sold 200,000 shares of the 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 transaction, the chief executive officer now directly owns 1,232,652 shares in the company, valued at $78,630,871.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the transaction, the executive vice president now owns 60,322 shares in the company, valued at $3,865,433.76. The disclosure for this sale can be found here. Insiders have sold 218,707 shares of company stock worth $13,961,251 over the last quarter. Company insiders own 1.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CBS. Dupont Capital Management Corp acquired a new position in shares of CBS Corporation during the second quarter worth approximately $102,000. Israel Discount Bank of New York acquired a new position in shares of CBS Corporation during the first quarter worth approximately $114,000. Parallel Advisors LLC boosted 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 worth $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 worth approximately $120,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of CBS Corporation during the first quarter worth approximately $157,000. Institutional investors and hedge funds 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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