CBS Corporation (CBS) Expected to Post Earnings of $1.14 Per Share
Equities research analysts forecast that CBS Corporation (NYSE:CBS) will announce earnings of $1.14 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for CBS Corporation’s earnings, with the highest EPS estimate coming in at $1.18 and the lowest estimate coming in at $1.06. CBS Corporation posted earnings per share of $1.05 during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The company is scheduled to issue its next earnings report on Thursday, November 2nd.
On average, analysts expect that CBS Corporation will report full-year earnings of $4.44 per share for the current financial year, with EPS estimates ranging from $4.27 to $4.50. For the next financial year, analysts forecast that the company will post earnings of $5.11 per share, with EPS estimates ranging from $4.83 to $5.21. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover CBS Corporation.
CBS Corporation (NYSE:CBS) last announced its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. CBS Corporation’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share.
A number of equities research analysts have recently weighed in on CBS shares. BMO Capital Markets reaffirmed a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research note on Tuesday, August 8th. BidaskClub raised CBS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target (up from $71.00) on shares of CBS Corporation in a research note on Wednesday, August 9th. Argus reaffirmed a “buy” rating and set a $79.00 price target (up from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $76.00 price target (up from $75.00) on shares of CBS Corporation in a research note on Wednesday, August 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.13.
Shares of CBS Corporation (NYSE:CBS) traded up 1.72% on Friday, reaching $64.36. 1,610,918 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $65.19 and its 200-day moving average price is $65.04. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 163.77 and a beta of 1.71. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is presently 211.76%.
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In other news, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total value of $337,701.60. Following the sale, the executive vice president now directly owns 60,322 shares in the company, valued at approximately $3,865,433.76. The disclosure for this sale can be found here. Insiders have sold a total of 376,874 shares of company stock worth $24,201,946 in the last three months. 2.03% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in CBS. GFS Advisors LLC purchased a new stake in shares of CBS Corporation during the first quarter valued at $822,000. WASHINGTON TRUST Co raised its stake in shares of CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock valued at $311,000 after buying an additional 37 shares during the last quarter. Seminole Management Co. Inc. purchased a new stake in shares of CBS Corporation during the first quarter valued at $19,227,000. Advisory Services Network LLC purchased a new stake in shares of CBS Corporation during the first quarter valued at $758,000. Finally, Advisor Partners LLC raised its stake in shares of CBS Corporation by 22.9% in the first quarter. Advisor Partners LLC now owns 8,451 shares of the media conglomerate’s stock valued at $586,000 after buying an additional 1,573 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.
CBS Corporation Company Profile
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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