Brokerages expect CBS Co. (NYSE:CBS) to announce earnings of $1.41 per share for the current fiscal quarter, according to Zacks Investment Research. Twenty Six analysts have provided estimates for CBS’s earnings. The highest EPS estimate is $1.61 and the lowest is $1.32. CBS reported earnings of $1.34 per share in the same quarter last year, which would suggest a positive year over year growth rate of 5.2%. The firm is expected to issue its next earnings results after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that CBS will report full year earnings of $5.65 per share for the current financial year, with EPS estimates ranging from $5.49 to $5.85. For the next fiscal year, analysts forecast that the firm will report earnings of $6.56 per share, with EPS estimates ranging from $6.30 to $6.91. Zacks’ EPS averages are a mean average based on a survey of research firms that cover CBS.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.03). The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS.
A number of brokerages have weighed in on CBS. Barrington Research restated a “buy” rating and issued a $72.00 target price on shares of CBS in a research report on Tuesday, February 19th. Imperial Capital restated an “outperform” rating and issued a $72.00 target price (down previously from $75.00) on shares of CBS in a research report on Tuesday, February 19th. Benchmark cut their target price on shares of CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, February 13th. Atlantic Securities lowered shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Monday, February 11th. Finally, BMO Capital Markets restated a “buy” rating and issued a $63.00 target price on shares of CBS in a research report on Tuesday, February 5th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. CBS has a consensus rating of “Buy” and an average target price of $64.28.
Shares of NYSE CBS traded down $0.14 during trading hours on Friday, hitting $52.39. 2,172,584 shares of the stock were exchanged, compared to its average volume of 2,724,154. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 3.38. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 0.70 and a beta of 1.24. CBS has a 1-year low of $41.38 and a 1-year high of $59.59.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, March 8th. CBS’s payout ratio is currently 13.87%.
In other news, EVP Jonathan Anschell sold 20,730 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the completion of the transaction, the executive vice president now owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $51.35, for a total transaction of $235,388.40. Following the transaction, the director now directly owns 63,454 shares of the company’s stock, valued at approximately $3,258,362.90. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Campbell Newman Asset Management Inc. boosted its stake in shares of CBS by 4.0% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 5,186 shares of the media conglomerate’s stock valued at $246,000 after purchasing an additional 198 shares in the last quarter. Heritage Trust Co boosted its position in CBS by 2.7% during the 4th quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock valued at $454,000 after buying an additional 275 shares during the period. Regent Investment Management LLC boosted its position in CBS by 2.1% during the 4th quarter. Regent Investment Management LLC now owns 14,437 shares of the media conglomerate’s stock valued at $631,000 after buying an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in CBS by 21.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock valued at $77,000 after buying an additional 307 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in CBS by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock valued at $2,362,000 after buying an additional 350 shares during the period. 75.73% of the stock is owned by hedge funds and other institutional investors.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.
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