CBS Corp. (NYSE:CBS) – Equities research analysts at Barrington Research lifted their Q4 2016 earnings estimates for shares of CBS Corp. in a research report issued to clients and investors on Thursday. Barrington Research analyst J. Goss now forecasts that the firm will earn $1.18 per share for the quarter, up from their previous forecast of $1.17.
CBS Corp. (NYSE:CBS) last released its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS.
Other equities analysts also recently issued reports about the company. Credit Suisse Group AG restated a “buy” rating and set a $75.00 price objective on shares of CBS Corp. in a research report on Friday, July 29th. Deutsche Bank AG raised their price objective on CBS Corp. from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Pivotal Research restated a “buy” rating on shares of CBS Corp. in a research report on Sunday, July 24th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Wednesday, July 20th. Finally, Brean Capital restated a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a research report on Sunday, July 17th. Five research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.91.
Shares of CBS Corp. (NYSE:CBS) opened at 54.74 on Friday. CBS Corp. has a 52 week low of $40.50 and a 52 week high of $58.22. The stock’s 50 day moving average price is $51.99 and its 200-day moving average price is $53.74. The company has a market cap of $24.34 billion, a PE ratio of 16.20 and a beta of 1.89.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were given a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. CBS Corp.’s payout ratio is 21.30%.
A number of institutional investors have recently bought and sold shares of CBS. Old Mutual Global Investors UK Ltd. boosted its position in CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares during the last quarter. Bessemer Group Inc. boosted its position in CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock valued at $89,471,000 after buying an additional 1,642,998 shares during the last quarter. Cibc World Markets Corp acquired a new position in CBS Corp. during the second quarter valued at approximately $72,230,000. Numeric Investors LLC boosted its position in CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock valued at $64,442,000 after buying an additional 1,177,318 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in CBS Corp. during the first quarter valued at approximately $51,458,000. Institutional investors and hedge funds own 76.78% of the company’s stock.
About CBS Corp.
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.
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