Barrington Research Comments on CBS Corporation’s Q4 2017 Earnings (NYSE:CBS)
CBS Corporation (NYSE:CBS) – Analysts at Barrington Research reduced their Q4 2017 earnings estimates for shares of CBS Corporation in a research report issued to clients and investors on Wednesday. Barrington Research analyst J. Goss now anticipates that the media conglomerate will post earnings of $1.22 per share for the quarter, down from their previous estimate of $1.26. Barrington Research also issued estimates for CBS Corporation’s FY2019 earnings at $6.00 EPS.
Several other research analysts have also recently issued reports on the stock. Rosenblatt Securities lifted their target price on shares of CBS Corporation to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a report on Wednesday, June 28th. BidaskClub raised shares of CBS Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $71.00 target price on shares of CBS Corporation in a report on Wednesday, June 14th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $80.00 target price on shares of CBS Corporation in a report on Friday, April 14th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. CBS Corporation currently has an average rating of “Buy” and a consensus target price of $72.94.
Shares of CBS Corporation (NYSE:CBS) opened at 66.71 on Thursday. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The company has a 50 day moving average of $64.79 and a 200-day moving average of $64.96. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of 169.75 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $0.93 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. CBS Corporation’s payout ratio is currently 211.76%.
In other CBS Corporation news, CEO Leslie Moonves sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total value of $12,758,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,232,652 shares in the company, valued at $78,630,871.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.96, for a total transaction of $538,695.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 226,874 shares of company stock valued at $14,499,946. Company insiders own 1.67% of the company’s stock.
Several institutional investors have recently bought and sold shares of CBS. V Wealth Management LLC raised its position in CBS Corporation by 14.0% in the first quarter. V Wealth Management LLC now owns 22,132 shares of the media conglomerate’s stock worth $1,529,000 after buying an additional 2,718 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in CBS Corporation during the first quarter worth $157,000. Columbus Circle Investors raised its position in CBS Corporation by 89.8% in the first quarter. Columbus Circle Investors now owns 730,636 shares of the media conglomerate’s stock worth $50,677,000 after buying an additional 345,676 shares during the last quarter. DnB Asset Management AS raised its position in CBS Corporation by 17.1% in the first quarter. DnB Asset Management AS now owns 45,862 shares of the media conglomerate’s stock worth $3,181,000 after buying an additional 6,700 shares during the last quarter. Finally, Reliance Trust Co. of Delaware raised its position in CBS Corporation by 20.3% in the first quarter. Reliance Trust Co. of Delaware now owns 10,535 shares of the media conglomerate’s stock worth $731,000 after buying an additional 1,775 shares during the last quarter. Institutional investors and hedge funds own 75.42% of the company’s stock.
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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