CBS Corp (CBS) Announces Quarterly Earnings, Beats Expectations By $0.02 EPS
CBS Corp (NYSE:CBS) posted its quarterly earnings results on Wednesday. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.02, AR Network reports. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $0.64 earnings per share. CBS Corp’s revenue was up 5.8% compared to the same quarter last year.
A number of research firms have recently commented on CBS. Analysts at Guggenheim reiterated a “positive” rating on shares of CBS Corp in a research note on Wednesday, February 5th. On a related note, analysts at Topeka Capital Markets initiated coverage on shares of CBS Corp in a research note on Friday, January 24th. They set a “buy” rating on the stock. Finally, analysts at Nomura initiated coverage on shares of CBS Corp in a research note on Wednesday, January 15th. They set a “buy” rating and a $75.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $62.38.
Shares of CBS Corp (NYSE:CBS) traded up 0.64% during mid-day trading on Wednesday, hitting $61.2925. 821,357 shares of the company’s stock traded hands. CBS Corp has a 1-year low of $42.05 and a 1-year high of $64.06. The stock’s 50-day moving average is $60.80 and its 200-day moving average is $57.49. The company has a market cap of $36.781 billion and a P/E ratio of 21.35.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Tuesday, March 11th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, March 7th.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
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