Barrington Research Weighs in on CBS Corp.’s Q3 2016 Earnings (CBS)
CBS Corp. (NYSE:CBS) – Equities research analysts at Barrington Research dropped their Q3 2016 earnings estimates for CBS Corp. in a report issued on Thursday. Barrington Research analyst J. Goss now anticipates that the brokerage will post earnings of $0.98 per share for the quarter, down from their previous estimate of $1.04. Barrington Research also issued estimates for CBS Corp.’s FY2016 earnings at $4.10 EPS and FY2017 earnings at $4.40 EPS.
CBS has been the subject of a number of other reports. Telsey Advisory Group lowered shares of CBS Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $67.00 to $57.00 in a research note on Thursday, September 22nd. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a research note on Saturday, July 2nd. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research note on Monday, September 12th. Wells Fargo & Co. restated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Finally, Pivotal Research restated a “buy” rating on shares of CBS Corp. in a research note on Sunday, July 24th. Five investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.91.
Shares of CBS Corp. (NYSE:CBS) opened at 54.74 on Monday. The stock has a market capitalization of $24.34 billion, a PE ratio of 16.20 and a beta of 1.89. CBS Corp. has a 52 week low of $40.50 and a 52 week high of $58.22. The company’s 50 day moving average is $51.99 and its 200-day moving average is $53.74.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. CBS Corp.’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. CBS Corp.’s dividend payout ratio is 21.30%.
A number of hedge funds have recently added to or reduced their stakes in CBS. AMF Pensionsforsakring AB raised its stake in CBS Corp. by 2.8% in the first quarter. AMF Pensionsforsakring AB now owns 43,890 shares of the media conglomerate’s stock worth $2,418,000 after buying an additional 1,200 shares during the period. Aviva PLC raised its stake in CBS Corp. by 0.7% in the first quarter. Aviva PLC now owns 260,034 shares of the media conglomerate’s stock worth $14,325,000 after buying an additional 1,839 shares during the period. Investec Asset Management North America Inc. raised its stake in CBS Corp. by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 23,118 shares of the media conglomerate’s stock worth $1,274,000 after buying an additional 6,620 shares during the period. Investec Asset Management LTD raised its stake 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 worth $179,893,000 after buying an additional 22,307 shares during the period. Finally, M&T Bank Corp raised its stake in CBS Corp. by 3.2% in the first quarter. M&T Bank Corp now owns 77,649 shares of the media conglomerate’s stock worth $4,278,000 after buying an additional 2,404 shares during the period. 76.78% of the stock is owned by institutional investors.
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.
Receive News & Stock Ratings for CBS Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corp. and related stocks with our FREE daily email newsletter.