CBS Corp. (NYSE:CBS) – Stock analysts at FBR & Co lowered their FY2016 earnings per share (EPS) estimates for CBS Corp. in a research note issued to investors on Friday. FBR & Co analyst B. Crockett now anticipates that the brokerage will post earnings of $4.08 per share for the year, down from their prior estimate of $4.09. FBR & Co also issued estimates for CBS Corp.’s FY2017 earnings at $4.42 EPS, FY2018 earnings at $5.55 EPS, FY2019 earnings at $6.52 EPS and FY2020 earnings at $6.87 EPS.
CBS Corp. (NYSE:CBS) last issued its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year.
A number of other analysts also recently commented on the stock. Drexel Hamilton initiated coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They issued a “buy” rating and a $65.00 target price on the stock. Jefferies Group reissued a “buy” rating on shares of CBS Corp. in a research report on Monday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $63.00 target price on shares of CBS Corp. in a research report on Sunday, July 31st. Zacks Investment Research raised shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, July 20th. Finally, Telsey Advisory Group downgraded shares of CBS Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $67.00 to $57.00 in a research report on Thursday, September 22nd. Five analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. CBS Corp. presently has an average rating of “Buy” and a consensus price target of $62.64.
CBS Corp. (NYSE:CBS) opened at 55.39 on Monday. The stock has a 50 day moving average of $53.07 and a 200-day moving average of $53.83. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22. The stock has a market cap of $24.63 billion, a P/E ratio of 16.39 and a beta of 1.81.
Institutional investors have recently added to or reduced their stakes in the stock. Gluskin Sheff & Assoc Inc. bought a new position in CBS Corp. during the second quarter valued at approximately $24,255,000. Bank of Montreal Can bought a new position in CBS Corp. during the second quarter valued at approximately $13,118,000. British Columbia Investment Management Corp boosted its position in CBS Corp. by 9.6% in the second quarter. British Columbia Investment Management Corp now owns 196,111 shares of the media conglomerate’s stock valued at $10,676,000 after buying an additional 17,103 shares during the last quarter. Redwood Investments LLC boosted its position in CBS Corp. by 6,964.5% in the second quarter. Redwood Investments LLC now owns 196,746 shares of the media conglomerate’s stock valued at $10,711,000 after buying an additional 193,961 shares during the last quarter. Finally, Junto Capital Management LP bought a new position in CBS Corp. during the first quarter valued at approximately $25,427,000. Hedge funds and other institutional investors own 76.80% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were paid a dividend of $0.18 per share. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 1.30%. The ex-dividend date was Wednesday, September 7th. CBS Corp.’s dividend payout ratio is presently 21.30%.
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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