Q3 2016 EPS Estimates for CBS Corp. (CBS) Cut by Jefferies Group
CBS Corp. (NYSE:CBS) – Equities research analysts at Jefferies Group decreased their Q3 2016 EPS estimates for CBS Corp. in a research note issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the firm will post earnings of $0.98 per share for the quarter, down from their previous forecast of $0.99. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for CBS Corp.’s Q3 2017 earnings at $1.06 EPS.
CBS Corp. (NYSE:CBS) last issued its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The business earned $3.29 billion during the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. CBS Corp.’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share.
A number of other brokerages have also weighed in on CBS. Wells Fargo & Co. lowered shares of CBS Corp. to a “buy” rating in a research note on Monday, July 11th. Credit Suisse Group AG restated an “outperform” rating and set a $75.00 price objective on shares of CBS Corp. in a research note on Wednesday, October 5th. Brean Capital restated a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a research note on Sunday, July 17th. Pivotal Research restated a “buy” rating on shares of CBS Corp. in a research note on Sunday, July 24th. Finally, Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.64.
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CBS Corp. (NYSE:CBS) traded down 0.386% during mid-day trading on Tuesday, reaching $55.515. The company had a trading volume of 1,788,898 shares. CBS Corp. has a 12 month low of $41.36 and a 12 month high of $58.22. The stock has a market cap of $24.68 billion, a PE ratio of 16.425 and a beta of 1.81. The firm’s 50-day moving average price is $52.64 and its 200-day moving average price is $53.81.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, September 7th. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s payout ratio is 21.30%.
Institutional investors have recently modified their holdings of the company. Virginia Retirement System acquired a new position in shares of CBS Corp. during the first quarter worth approximately $387,000. Columbia Partners L L C Investment Management acquired a new position in shares of CBS Corp. during the first quarter worth approximately $1,071,000. NN Investment Partners Holdings N.V. acquired a new position in shares of CBS Corp. during the first quarter worth approximately $141,000. Advisor Partners LLC raised its position in shares of CBS Corp. by 0.7% in the first quarter. Advisor Partners LLC now owns 5,218 shares of the media conglomerate’s stock worth $287,000 after buying an additional 34 shares during the period. Finally, M&T Bank Corp increased its position in shares of CBS Corp. by 3.2% in the first quarter. M&T Bank Corp now owns 77,649 shares of the media conglomerate’s stock worth $4,278,000 after buying an additional 2,404 shares in the last quarter. Institutional investors own 76.79% of the company’s stock.
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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