$1.19 EPS Expected for CBS Corporation (CBS) This Quarter
Equities analysts forecast that CBS Corporation (NYSE:CBS) will post earnings per share of $1.19 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for CBS’s earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.13. CBS posted earnings of $1.11 per share in the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that CBS will report full-year earnings of $4.39 per share for the current fiscal year, with EPS estimates ranging from $4.29 to $4.45. For the next year, analysts forecast that the business will report earnings of $5.02 per share, with EPS estimates ranging from $4.83 to $5.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for CBS.
CBS (NYSE:CBS) last posted its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. CBS had a return on equity of 58.49% and a net margin of 2.14%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS.
Several equities analysts have recently issued reports on CBS shares. Cowen restated a “buy” rating on shares of CBS in a research report on Thursday, September 21st. B. Riley restated a “buy” rating on shares of CBS in a research report on Friday, November 3rd. Rosenblatt Securities restated a “buy” rating and set a $80.00 target price on shares of CBS in a research report on Wednesday, September 20th. Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $70.00 target price (down from $80.00) on shares of CBS in a research report on Friday, November 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. CBS has an average rating of “Buy” and an average target price of $73.17.
In other CBS news, CEO Leslie Moonves sold 85,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total value of $4,917,250.00. Following the sale, the chief executive officer now owns 884,513 shares in the company, valued at approximately $51,169,077.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce S. Gordon sold 5,093 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $55.50, for a total value of $282,661.50. The disclosure for this sale can be found here. Insiders sold a total of 400,279 shares of company stock worth $23,293,978 in the last 90 days. Company insiders own 1.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Dupont Capital Management Corp bought a new stake in shares of CBS during the 2nd quarter worth approximately $102,000. Parallel Advisors LLC raised its stake in shares of CBS by 42.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after purchasing an additional 532 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of CBS during the 2nd quarter worth approximately $205,000. Bridgewater Wealth & Financial Management LLC raised its stake in shares of CBS by 12.3% during the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock worth $218,000 after purchasing an additional 374 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in shares of CBS during the 2nd quarter worth approximately $340,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.
CBS (NYSE:CBS) traded up $0.77 during trading on Thursday, hitting $58.90. The stock had a trading volume of 4,306,131 shares, compared to its average volume of 10,860,000. The firm has a market cap of $23,600.00, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.06 and a beta of 1.62. CBS has a 52 week low of $52.75 and a 52 week high of $70.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Monday, December 11th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, December 8th. CBS’s payout ratio is 20.93%.
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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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