$1.14 EPS Expected for CBS Co. (CBS) This Quarter
Equities research analysts expect that CBS Co. (NYSE:CBS) will post earnings of $1.14 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for CBS’s earnings. The highest EPS estimate is $1.18 and the lowest is $1.06. CBS posted earnings per share of $1.05 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The business is expected to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that CBS will report full-year earnings of $4.44 per share for the current year, with EPS estimates ranging from $4.27 to $4.50. For the next year, analysts anticipate that the business will post earnings of $5.11 per share, with EPS estimates ranging from $4.83 to $5.21. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover CBS.
CBS (NYSE:CBS) last announced its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. CBS had a return on equity of 57.78% and a net margin of 12.56%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS.
Several analysts recently weighed in on the company. BidaskClub raised CBS from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Argus reaffirmed a “buy” rating and issued a $79.00 price objective (up from $71.00) on shares of CBS in a research note on Thursday, August 10th. Barclays PLC set a $57.00 price objective on CBS and gave the company a “hold” rating in a research note on Friday, August 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CBS in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $77.00 price target (up from $75.00) on shares of CBS in a research note on Tuesday, August 8th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.13.
In other CBS news, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total value of $12,758,000.00. Following the transaction, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at $78,630,871.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. In the last three months, insiders sold 376,874 shares of company stock worth $24,201,946. Insiders own 1.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GFS Advisors LLC acquired a new position in CBS during the first quarter valued at $822,000. WASHINGTON TRUST Co boosted its position in CBS 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 in the last quarter. Seminole Management Co. Inc. acquired a new position in CBS during the first quarter valued at $19,227,000. Advisory Services Network LLC acquired a new position in CBS during the first quarter valued at $758,000. Finally, Advisor Partners LLC boosted its position in CBS 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 in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of CBS (NYSE CBS) traded down 0.14% during trading on Friday, hitting $63.89. The stock had a trading volume of 1,792,224 shares. The company has a market cap of $25.66 billion, a PE ratio of 162.57 and a beta of 1.71. The stock has a 50 day moving average of $65.19 and a 200 day moving average of $65.04. CBS has a 12 month low of $48.88 and a 12 month high of $70.10.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.13%. CBS’s dividend payout ratio (DPR) is currently 211.76%.
CBS 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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