Research Analysts Set Expectations for CBS Corp.’s FY2016 Earnings (CBS)
CBS Corp. (NYSE:CBS) – Analysts at FBR & Co dropped their FY2016 earnings per share (EPS) estimates for CBS Corp. in a research note issued to investors on Friday. FBR & Co analyst B. Crockett now expects that the firm will post earnings of $4.08 per share for the year, down from their previous forecast of $4.09. FBR & Co also issued estimates for CBS Corp.’s FY2017 earnings at $4.42 EPS, FY2018 earnings at $5.55 EPS, FY2019 earnings at $6.52 EPS and FY2020 earnings at $6.87 EPS.
Several other research analysts also recently weighed in on the stock. Credit Suisse Group AG reissued an “outperform” rating and issued a $75.00 target price on shares of CBS Corp. in a research report on Wednesday, October 5th. Argus reissued a “buy” rating and issued a $71.00 target price on shares of CBS Corp. in a research report on Tuesday, October 4th. Jefferies Group reissued a “buy” rating on shares of CBS Corp. in a research report on Friday, September 30th. Brean Capital set a $65.00 target price on shares of CBS Corp. and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, Telsey Advisory Group downgraded shares of CBS Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $67.00 to $57.00 in a research report on Thursday, September 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 55.11 on Monday. The firm has a market capitalization of $24.50 billion, a price-to-earnings ratio of 16.30 and a beta of 1.81. The company’s 50-day moving average is $52.96 and its 200-day moving average is $53.84. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $58.22.
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CBS Corp. (NYSE:CBS) last released 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 business earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.31%. 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%.
Several large investors have recently bought and sold shares of CBS. Gluskin Sheff & Assoc Inc. purchased a new stake in CBS Corp. during the second quarter valued at $24,255,000. Bank of Montreal Can purchased a new stake in CBS Corp. during the second quarter valued at $13,118,000. British Columbia Investment Management Corp raised 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 valued at $10,676,000 after buying an additional 17,103 shares during the last quarter. Redwood Investments LLC raised 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 valued at $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 valued at $25,427,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.
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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