Research Analysts Set Expectations for CBS Corp.’s Q4 2016 Earnings (CBS)
CBS Corp. (NYSE:CBS) – Investment analysts at Barrington Research boosted their Q4 2016 EPS estimates for CBS Corp. in a research note issued to investors on Thursday. Barrington Research analyst J. Goss now anticipates that the brokerage will earn $1.18 per share for the quarter, up from their prior estimate of $1.17.
Several other analysts also recently issued reports on CBS. Sanford C. Bernstein reissued a “market perform” rating on shares of CBS Corp. in a research note on Friday, June 17th. Wells Fargo & Co. reissued an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Morgan Stanley reissued an “overweight” rating on shares of CBS Corp. in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of CBS Corp. in a research note on Thursday, June 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of CBS Corp. in a research note on Saturday, July 2nd. Five research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $61.91.
Shares of CBS Corp. (NYSE:CBS) opened at 54.74 on Friday. CBS Corp. has a 1-year low of $40.50 and a 1-year high of $58.22. The stock has a market cap of $24.34 billion, a P/E ratio of 16.20 and a beta of 1.89. The company has a 50 day moving average price of $51.99 and a 200 day moving average price of $53.74.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were given a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio is 21.30%.
Several hedge funds and other institutional investors have recently modified their holdings of CBS. Capital World Investors increased its position in shares of CBS Corp. by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock worth $1,816,267,000 after buying an additional 612,557 shares during the period. Bank of New York Mellon Corp increased its position in CBS Corp. by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 9,700,725 shares of the media conglomerate’s stock valued at $528,106,000 after buying an additional 401,343 shares during the period. TIAA CREF Investment Management LLC increased its position in CBS Corp. by 9.7% in the first quarter. TIAA CREF Investment Management LLC now owns 4,737,980 shares of the media conglomerate’s stock valued at $261,015,000 after buying an additional 420,237 shares during the period. Investec Asset Management LTD increased its position in CBS Corp. by 0.7% in the first quarter. Investec Asset Management LTD now owns 3,265,437 shares of the media conglomerate’s stock valued at $179,893,000 after buying an additional 22,307 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in CBS Corp. by 0.8% in the second quarter. UBS Asset Management Americas Inc. now owns 1,995,965 shares of the media conglomerate’s stock valued at $108,660,000 after buying an additional 16,809 shares during the period. Institutional investors and hedge funds own 76.78% of the company’s stock.
CBS Corp. Company Profile
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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