CBS Corporation (NYSE:CBS) – Investment analysts at Jefferies Group raised their Q3 2017 earnings estimates for CBS Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst J. Janedis now expects that the media conglomerate will earn $1.18 per share for the quarter, up from their prior estimate of $1.10. Jefferies Group currently has a “Buy” rating and a $73.00 price objective 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.
Other equities analysts have also issued reports about the company. Needham & Company LLC restated a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a research note on Wednesday, June 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a report on Friday, April 14th. Royal Bank Of Canada set a $75.00 price objective on CBS Corporation and gave the stock a “buy” rating in a report on Tuesday, June 6th. BidaskClub upgraded CBS Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Guggenheim reiterated a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a report on Friday, April 14th. Six 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 stock. CBS Corporation presently has an average rating of “Buy” and a consensus target price of $72.94.
Shares of CBS Corporation (NYSE:CBS) opened at 66.71 on Thursday. The firm has a market capitalization of $26.79 billion, a price-to-earnings ratio of 169.75 and a beta of 1.71. 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 price is $64.79 and its 200 day moving average price is $64.96.
CBS Corporation (NYSE:CBS) last released its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. CBS Corporation’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS.
The company also recently declared 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 is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. CBS Corporation’s payout ratio is 211.76%.
In related news, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was 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 directly 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. Insiders sold 226,874 shares of company stock valued at $14,499,946 in the last quarter. 1.67% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Focused Investors LLC acquired a new position in shares of CBS Corporation during the second quarter worth approximately $72,467,000. Scopus Asset Management L.P. increased its position in shares of CBS Corporation by 166.7% in the first quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock worth $93,636,000 after buying an additional 843,900 shares during the period. FMR LLC increased its position in shares of CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after buying an additional 618,593 shares during the period. BlueCrest Capital Management Ltd increased its position in shares of CBS Corporation by 957.7% in the first quarter. BlueCrest Capital Management Ltd now owns 431,485 shares of the media conglomerate’s stock worth $29,928,000 after buying an additional 390,689 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of CBS Corporation during the first quarter worth approximately $26,684,000. 75.42% of the stock is owned by institutional investors.
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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