CBS Corp. (NYSE:CBS) – Stock analysts at Barrington Research lowered their Q3 2016 earnings estimates for shares of CBS Corp. in a report issued on Thursday. Barrington Research analyst J. Goss now anticipates that the brokerage will post earnings of $0.98 per share for the quarter, down from their previous forecast of $1.04. Barrington Research also issued estimates for CBS Corp.’s FY2016 earnings at $4.10 EPS and FY2017 earnings at $4.40 EPS.
A number of other equities research analysts have also issued reports on the company. Jefferies Group reaffirmed a “buy” rating on shares of CBS Corp. in a research note on Friday. Brean Capital set a $65.00 target price on CBS Corp. and gave the company a “buy” rating in a research note on Thursday, September 29th. Telsey Advisory Group lowered CBS Corp. from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $67.00 to $57.00 in a research note on Thursday, September 22nd. Drexel Hamilton began coverage on CBS Corp. in a research note on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Guggenheim reissued a “buy” rating and set a $63.00 price target on shares of CBS Corp. in a research note on Saturday, September 3rd. Five research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. CBS Corp. currently has a consensus rating of “Buy” and a consensus target price of $61.91.
CBS Corp. (NYSE:CBS) opened at 54.93 on Monday. The firm has a market capitalization of $24.42 billion, a PE ratio of 16.25 and a beta of 1.81. The company’s 50-day moving average price is $52.06 and its 200 day moving average price is $53.74. CBS Corp. has a 1-year low of $41.29 and a 1-year high of $58.22.
CBS Corp. (NYSE:CBS) last released its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm earned $3.29 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the firm posted $0.74 EPS. CBS Corp.’s revenue for the quarter was up 2.1% on a year-over-year basis.
Several large investors have recently added to or reduced their stakes in CBS. Beacon Financial Group acquired a new stake in CBS Corp. during the third quarter worth $498,000. Macquarie Group Ltd. boosted its stake in CBS Corp. by 30.3% in the second quarter. Macquarie Group Ltd. now owns 225,950 shares of the media conglomerate’s stock worth $12,301,000 after buying an additional 52,600 shares during the period. Williams Jones & Associates LLC boosted its stake in CBS Corp. by 84.2% in the second quarter. Williams Jones & Associates LLC now owns 114,966 shares of the media conglomerate’s stock worth $6,259,000 after buying an additional 52,546 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in CBS Corp. during the second quarter worth $913,000. Finally, Kentucky Retirement Systems acquired a new stake in CBS Corp. during the second quarter worth $1,923,000. 76.78% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s payout ratio is 21.30%.
CBS Corp. Company Profile
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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