Research Analysts Set Expectations for CBS Corp.’s FY2016 Earnings (CBS)
CBS Corp. (NYSE:CBS) – Equities research analysts at FBR & Co decreased their FY2016 earnings per share estimates for CBS Corp. in a research report issued to clients and investors on Friday. FBR & Co analyst B. Crockett now expects that the brokerage will post earnings of $4.08 per share for the year, down from their prior estimate of $4.09. FBR & Co also issued estimates for CBS Corp.’s FY2017 earnings at $4.42 EPS, FY2018 earnings at $5.55 EPS, FY2019 earnings at $6.52 EPS and FY2020 earnings at $6.87 EPS.
CBS Corp. (NYSE:CBS) last posted its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on the company. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $75.00 price target on shares of CBS Corp. in a report on Wednesday, October 5th. Argus reaffirmed a “buy” rating and set a $71.00 price target on shares of CBS Corp. in a report on Tuesday, October 4th. Jefferies Group reaffirmed a “buy” rating on shares of CBS Corp. in a report on Friday, September 30th. Brean Capital set a $65.00 price target on CBS Corp. and gave the company a “buy” rating in a report on Thursday, September 29th. Finally, Telsey Advisory Group downgraded CBS Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the company from $67.00 to $57.00 in a report on Thursday, September 22nd. Five analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 55.11 on Monday. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $58.22. The company has a market cap of $24.50 billion, a price-to-earnings ratio of 16.30 and a beta of 1.81. The stock has a 50 day moving average of $52.96 and a 200 day moving average of $53.84.
A number of institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. raised its position in shares of CBS Corp. by 0.3% in the second quarter. Tocqueville Asset Management L.P. now owns 7,918 shares of the media conglomerate’s stock valued at $431,000 after buying an additional 21 shares during the period. Hollencrest Securities LLC increased its stake in CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock valued at $399,000 after buying an additional 34 shares in the last quarter. Abner Herrman & Brock LLC increased its stake in CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock valued at $436,000 after buying an additional 50 shares in the last quarter. TIAA CREF Trust Co. FSB MO increased its stake in CBS Corp. by 0.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 10,184 shares of the media conglomerate’s stock valued at $554,000 after buying an additional 54 shares in the last quarter. Finally, SSI Investment Management Inc. increased its stake in CBS Corp. by 1.4% in the second quarter. SSI Investment Management Inc. now owns 4,003 shares of the media conglomerate’s stock valued at $218,000 after buying an additional 55 shares in the last quarter. 76.80% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders 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 annualized dividend and a yield of 1.31%. CBS Corp.’s payout ratio is 21.30%.
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.