Q1 2018 EPS Estimates for CBS Co. Raised by Analyst (CBS)
CBS Co. (NYSE:CBS) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings estimates for shares of CBS in a research report issued to clients and investors on Friday, April 13th. Jefferies Group analyst J. Janedis now anticipates that the media conglomerate will post earnings per share of $1.18 for the quarter, up from their prior forecast of $1.17. Jefferies Group also issued estimates for CBS’s Q3 2018 earnings at $1.27 EPS.
A number of other equities research analysts have also issued reports on CBS. ValuEngine lowered shares of CBS from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Macquarie lowered shares of CBS from an “outperform” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Tuesday, January 2nd. Zacks Investment Research lowered shares of CBS from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Piper Jaffray set a $70.00 target price on shares of CBS and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo reissued an “outperform” rating and issued a $70.00 target price (down from $75.00) on shares of CBS in a report on Thursday, January 4th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $69.19.
CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. CBS had a net margin of 2.61% and a return on equity of 67.23%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the firm posted $1.11 EPS. The company’s revenue was up 11.5% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. CBS’s dividend payout ratio is presently 17.18%.
In related news, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $51.05, for a total value of $4,339,250.00. Following the completion of the sale, the chief executive officer now directly owns 885,831 shares in the company, valued at $45,221,672.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph R. Ianniello sold 2,400 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total value of $144,312.00. Following the completion of the sale, the chief operating officer now owns 320,723 shares of the company’s stock, valued at $19,285,073.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 391,284 shares of company stock valued at $21,408,918. 1.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Avestar Capital LLC bought a new stake in shares of CBS during the fourth quarter worth $119,000. We Are One Seven LLC bought a new stake in shares of CBS during the fourth quarter worth $137,000. Financial Gravity Companies Inc. bought a new stake in shares of CBS during the fourth quarter worth $143,000. Advisors Preferred LLC bought a new stake in shares of CBS during the fourth quarter worth $213,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of CBS during the fourth quarter worth $227,000. Institutional investors own 77.91% of the company’s stock.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
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