CBS Corporation (NYSE:CBS) – Analysts at Jefferies Group increased their Q2 2017 earnings estimates for CBS Corporation in a research note issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the media conglomerate will post earnings per share of $0.89 for the quarter, up from their prior forecast of $0.88. Jefferies Group has a “Buy” rating and a $71.00 price objective on the stock. Jefferies Group also issued estimates for CBS Corporation’s Q1 2018 earnings at $1.19 EPS, Q2 2018 earnings at $1.10 EPS, Q3 2018 earnings at $1.39 EPS, FY2018 earnings at $5.20 EPS and FY2020 earnings at $7.09 EPS.
A number of other analysts have also commented on CBS. Benchmark Co. boosted their price target on shares of CBS Corporation from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective on shares of CBS Corporation in a report on Tuesday, June 13th. Piper Jaffray Companies set a $75.00 price objective on shares of CBS Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Pivotal Research reaffirmed a “hold” rating and set a $67.00 price objective on shares of CBS Corporation in a report on Sunday, April 23rd. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $70.00 price objective on shares of CBS Corporation in a report on Monday, May 15th. Seven analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $71.31.
CBS Corporation (NYSE CBS) opened at 63.09 on Wednesday. The firm has a market cap of $25.61 billion, a PE ratio of 51.46 and a beta of 1.70. The company’s 50-day moving average is $61.88 and its 200 day moving average is $64.73. CBS Corporation has a one year low of $48.88 and a one year high of $70.10.
CBS Corporation (NYSE:CBS) last announced its earnings results on Thursday, May 4th. The media conglomerate reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.09. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. The firm’s revenue was down 6.9% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. CBS Corporation’s payout ratio is presently 63.72%.
In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was 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 SEC, which is available through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total value of $337,701.60. Following the completion of the transaction, the executive vice president now directly owns 60,322 shares in the company, valued at $3,865,433.76. The disclosure for this sale can be found here. 1.67% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GSB Wealth Management LLC boosted its position in CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock worth $314,000 after buying an additional 12 shares during the last quarter. WASHINGTON TRUST Co boosted its position in CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock worth $311,000 after buying an additional 37 shares during the last quarter. 1ST Source Bank boosted its position in CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock worth $300,000 after buying an additional 50 shares during the last quarter. Palladium Partners LLC boosted its position in CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock worth $244,000 after buying an additional 60 shares during the last quarter. Finally, First Financial Bank Trust Division boosted its position in CBS Corporation by 2.5% in the second quarter. First Financial Bank Trust Division now owns 4,995 shares of the media conglomerate’s stock worth $319,000 after buying an additional 120 shares during the last quarter. 75.23% of the stock is currently owned by hedge funds and other 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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