CBS Corp. Expected to Post Q3 2016 Earnings of $0.98 Per Share (CBS)
CBS Corp. (NYSE:CBS) – Investment analysts at Jefferies Group cut their Q3 2016 earnings estimates for CBS Corp. in a research report issued on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings per share of $0.98 for the quarter, down from their previous forecast of $0.99. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for CBS Corp.’s Q3 2017 earnings at $1.06 EPS.
CBS Corp. (NYSE:CBS) last issued its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The business earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share.
A number of other equities research analysts also recently commented on the stock. Drexel Hamilton started coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $63.00 price target on shares of CBS Corp. in a report on Sunday, July 31st. Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, July 20th. Telsey Advisory Group downgraded shares of CBS Corp. from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $67.00 to $57.00 in a report on Thursday, September 22nd. Finally, Argus reiterated a “buy” rating and set a $71.00 price target on shares of CBS Corp. in a report on Tuesday, October 4th. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 55.45 on Tuesday. The company has a 50 day moving average of $52.71 and a 200-day moving average of $53.82. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 16.41 and a beta of 1.81.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.30%. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio is presently 21.30%.
Large investors have recently bought and sold shares of the company. Capital World Investors increased its stake in CBS Corp. by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock valued at $1,816,267,000 after buying an additional 612,557 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 last quarter. Investec Asset Management LTD increased 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 valued at $179,893,000 after buying an additional 22,307 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake 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 last quarter. Finally, Legal & General Group Plc increased its stake in CBS Corp. by 1.8% in the first quarter. Legal & General Group Plc now owns 1,941,497 shares of the media conglomerate’s stock valued at $106,956,000 after buying an additional 34,593 shares during the last quarter. 76.79% of the stock is owned by institutional investors and hedge funds.
About CBS Corp.
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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