Jefferies Group Comments on CBS Corp.’s FY2017 Earnings (CBS)
CBS Corp. (NYSE:CBS) – Analysts at Jefferies Group decreased their FY2017 earnings per share (EPS) estimates for shares of CBS Corp. in a research report issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will post earnings per share of $4.25 for the year, down from their prior estimate of $4.26. Jefferies Group currently has a “Buy” rating on the stock.
CBS Corp. (NYSE:CBS) last released its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.
Several other equities research analysts have also weighed in on the stock. Drexel Hamilton initiated coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They issued a “buy” rating and a $65.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $63.00 target price on shares of CBS Corp. in a report on Sunday, July 31st. Zacks Investment Research raised shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Wednesday, July 20th. Telsey Advisory Group lowered shares of CBS Corp. from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $67.00 to $57.00 in a report on Thursday, September 22nd. Finally, Argus reaffirmed a “buy” rating and issued a $71.00 target price on shares of CBS Corp. in a report on Tuesday, October 4th. Five investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.64.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/jefferies-group-comments-on-cbs-corp-s-fy2017-earnings-cbs.html
CBS Corp. (NYSE:CBS) traded up 0.16% during mid-day trading on Wednesday, hitting $55.24. 2,451,013 shares of the company were exchanged. The stock has a market cap of $24.56 billion, a P/E ratio of 16.34 and a beta of 1.81. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $58.22. The company has a 50 day moving average of $52.78 and a 200 day moving average of $53.83.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were paid a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. CBS Corp.’s dividend payout ratio (DPR) is currently 21.30%.
Several institutional investors have recently added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. boosted its position in CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock valued at $89,471,000 after buying an additional 1,642,998 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of CBS Corp. during the second quarter valued at about $72,230,000. Numeric Investors LLC increased its stake in shares of CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock valued at $64,442,000 after buying an additional 1,177,318 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of CBS Corp. during the first quarter valued at about $51,458,000. 76.79% of the stock is owned by institutional investors and hedge funds.
CBS Corp. Company Profile
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.
Receive News & Ratings for CBS Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corp. and related companies with MarketBeat.com's FREE daily email newsletter.