Q2 2017 EPS Estimates for CBS Corporation Boosted by Jefferies Group (CBS)
CBS Corporation (NYSE:CBS) – Research analysts at Jefferies Group upped their Q2 2017 EPS estimates for shares of CBS Corporation in a research note issued to investors on Monday. Jefferies Group analyst J. Janedis now anticipates that the media conglomerate will earn $0.89 per share for the quarter, up from their previous estimate 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.
CBS Corporation (NYSE:CBS) last issued its quarterly earnings data on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.29 billion. CBS Corporation had a return on equity of 41.55% and a net margin of 3.96%. CBS Corporation’s revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share.
Other equities research analysts also recently issued research reports about the company. Instinet increased their price objective on CBS Corporation from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. FBR & Co reiterated a “buy” rating and set a $86.00 price objective on shares of CBS Corporation in a research report on Friday, April 7th. Wells Fargo & Company reiterated an “outperform” rating and set a $77.50 price objective (up previously from $74.00) on shares of CBS Corporation in a research report on Friday, April 7th. Rosenblatt Securities initiated coverage on CBS Corporation in a research report on Tuesday, April 4th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Nomura increased their price objective on CBS Corporation from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $71.31.
CBS Corporation (NYSE CBS) opened at 63.37 on Wednesday. The company’s 50-day moving average price is $61.88 and its 200 day moving average price is $64.73. The firm has a market capitalization of $25.73 billion, a PE ratio of 51.69 and a beta of 1.70. CBS Corporation has a one year low of $48.88 and a one year high of $70.10.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, June 7th. CBS Corporation’s payout ratio is 63.72%.
In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the transaction, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CBS. Scopus Asset Management L.P. increased its position in CBS Corporation by 166.7% in the first quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock valued at $93,636,000 after buying an additional 843,900 shares during the last quarter. FMR LLC increased its position in CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock valued at $244,860,000 after buying an additional 618,593 shares during the last quarter. Teachers Advisors LLC increased its position in CBS Corporation by 69.7% in the fourth quarter. Teachers Advisors LLC now owns 1,446,698 shares of the media conglomerate’s stock valued at $92,039,000 after buying an additional 594,016 shares during the last quarter. Atalanta Sosnoff Capital LLC acquired a new position in CBS Corporation during the first quarter valued at approximately $28,223,000. Finally, BlueCrest Capital Management Ltd increased its position in CBS Corporation by 957.7% in the first quarter. BlueCrest Capital Management Ltd now owns 431,485 shares of the media conglomerate’s stock valued at $29,928,000 after buying an additional 390,689 shares during the last quarter. 75.23% of the stock is currently owned by hedge funds and other institutional investors.
About CBS Corporation
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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