FY2017 EPS Estimates for CBS Corp. (CBS) Reduced by Jefferies Group
CBS Corp. (NYSE:CBS) – Investment analysts at Jefferies Group reduced their FY2017 EPS estimates for shares of CBS Corp. in a research report issued to clients and investors on Monday. Jefferies Group analyst J. Janedis now forecasts that the firm will earn $4.25 per share for the year, down from their prior forecast of $4.26. Jefferies Group currently has a “Buy” rating on the stock.
A number of other research analysts also recently issued reports on the company. Drexel Hamilton began coverage on CBS Corp. in a research note on Tuesday, September 6th. They issued a “buy” rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of CBS Corp. in a research note on Thursday, June 30th. Brean Capital set a $65.00 price objective on CBS Corp. and gave the company a “buy” rating in a research note on Thursday, September 29th. BMO Capital Markets reissued an “outperform” rating and issued a $63.00 price objective on shares of CBS Corp. in a research note on Sunday, July 31st. Finally, Wells Fargo & Co. downgraded CBS Corp. to a “buy” rating in a research note on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $62.64.
CBS Corp. (NYSE:CBS) traded down 0.56% on Wednesday, reaching $55.14. The company’s stock had a trading volume of 3,134,964 shares. CBS Corp. has a 52-week low of $41.36 and a 52-week high of $58.22. The company has a market cap of $24.52 billion, a P/E ratio of 16.31 and a beta of 1.81. The firm’s 50-day moving average price is $52.71 and its 200 day moving average price is $53.82.
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CBS Corp. (NYSE:CBS) last posted its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The firm earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is 21.30%.
Several large investors have recently modified their holdings of the company. Gluskin Sheff & Assoc Inc. purchased a new stake in CBS Corp. during the second quarter worth $24,255,000. Bank of Montreal Can purchased a new stake in CBS Corp. during the second quarter worth $13,118,000. British Columbia Investment Management Corp increased its stake in CBS Corp. by 9.6% in the second quarter. British Columbia Investment Management Corp now owns 196,111 shares of the media conglomerate’s stock worth $10,676,000 after buying an additional 17,103 shares during the last quarter. Redwood Investments LLC increased its stake in CBS Corp. by 6,964.5% in the second quarter. Redwood Investments LLC now owns 196,746 shares of the media conglomerate’s stock worth $10,711,000 after buying an additional 193,961 shares during the last quarter. Finally, Junto Capital Management LP purchased a new stake in CBS Corp. during the first quarter worth $25,427,000. 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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