FY2017 EPS Estimates for CBS Corporation (CBS) Increased by KeyCorp
CBS Corporation (NYSE:CBS) – Stock analysts at KeyCorp raised their FY2017 EPS estimates for shares of CBS Corporation in a report released on Thursday. KeyCorp analyst A. Hargreaves now anticipates that the media conglomerate will earn $4.34 per share for the year, up from their prior forecast of $4.27. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for CBS Corporation’s Q4 2017 earnings at $1.13 EPS, Q1 2018 earnings at $1.15 EPS, Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.17 EPS and Q4 2018 earnings at $1.34 EPS.
CBS has been the subject of a number of other reports. BMO Capital Markets reaffirmed a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research note on Tuesday, August 8th. BidaskClub upgraded CBS Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 target price (up previously from $71.00) on shares of CBS Corporation in a report on Wednesday, August 9th. Argus reiterated a “buy” rating and issued a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $76.00 target price (up previously from $75.00) on shares of CBS Corporation in a report on Wednesday, August 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $73.33.
Shares of CBS Corporation (CBS) opened at $56.96 on Monday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.10 and a current ratio of 1.55. CBS Corporation has a 52 week low of $52.75 and a 52 week high of $70.10. The company has a market cap of $22,251.52, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.62.
CBS Corporation (NYSE:CBS) last posted its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. CBS Corporation had a net margin of 2.14% and a return on equity of 58.49%. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis.
In other CBS Corporation news, CEO Leslie Moonves sold 150,000 shares of CBS Corporation stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total transaction of $9,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,182,652 shares of the company’s stock, valued at $76,493,931.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gil D. Schwartz sold 54,131 shares of CBS Corporation stock in a transaction on Monday, September 11th. The shares were sold at an average price of $58.40, for a total value of $3,161,250.40. Following the transaction, the executive vice president now directly owns 102,483 shares of the company’s stock, valued at $5,985,007.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,298 shares of company stock valued at $30,900,946. Company insiders own 2.03% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Fred Alger Management Inc. increased its stake in shares of CBS Corporation by 0.6% in the second quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock valued at $311,252,000 after buying an additional 29,986 shares in the last quarter. Focused Investors LLC increased its position in CBS Corporation by 43.0% in the third quarter. Focused Investors LLC now owns 1,624,900 shares of the media conglomerate’s stock worth $94,244,000 after purchasing an additional 488,700 shares during the period. Eaton Vance Management increased its position in CBS Corporation by 27.8% in the second quarter. Eaton Vance Management now owns 734,531 shares of the media conglomerate’s stock worth $46,848,000 after purchasing an additional 159,924 shares during the period. Rhumbline Advisers increased its position in CBS Corporation by 0.8% in the third quarter. Rhumbline Advisers now owns 607,968 shares of the media conglomerate’s stock worth $35,262,000 after purchasing an additional 4,584 shares during the period. Finally, PGGM Investments increased its position in CBS Corporation by 136.1% in the third quarter. PGGM Investments now owns 579,591 shares of the media conglomerate’s stock worth $33,616,000 after purchasing an additional 334,076 shares during the period. Institutional investors own 74.98% of the company’s stock.
About CBS Corporation
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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