Q4 2017 EPS Estimates for CBS Corporation Increased by Jefferies Group (CBS)
CBS Corporation (NYSE:CBS) – Research analysts at Jefferies Group raised their Q4 2017 EPS estimates for shares of CBS Corporation in a research report issued on Tuesday. Jefferies Group analyst J. Janedis now expects that the media conglomerate will post earnings per share of $1.27 for the quarter, up from their prior forecast of $1.22. Jefferies Group has a “Buy” rating and a $73.00 price target on the stock. Jefferies Group also issued estimates for CBS Corporation’s Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $1.47 EPS and Q3 2019 earnings at $1.51 EPS.
Other equities analysts also recently issued reports about the company. ValuEngine downgraded CBS Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research report on Wednesday, June 28th. BidaskClub upgraded shares of CBS Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Loop Capital reiterated a “buy” rating and issued a $78.00 price target on shares of CBS Corporation in a research note on Sunday, August 20th. Finally, Royal Bank Of Canada set a $75.00 price objective on shares of CBS Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $74.94.
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Shares of CBS Corporation (NYSE:CBS) traded up 0.20% during trading on Wednesday, hitting $59.01. The company had a trading volume of 245,829 shares. The firm has a market capitalization of $23.70 billion, a P/E ratio of 150.15 and a beta of 1.68. CBS Corporation has a 1-year low of $54.37 and a 1-year high of $70.10. The company’s 50 day moving average is $61.38 and its 200 day moving average is $63.79. CBS Corporation also was the target of some unusual options trading on Monday. Investors purchased 7,736 call options on the company. This represents an increase of approximately 179% compared to the typical volume of 2,770 call options.
CBS Corporation (NYSE:CBS) last released its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. CBS Corporation’s payout ratio is currently 211.76%.
In related news, CEO Leslie Moonves sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total value of $12,758,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 575,735 shares of company stock worth $35,881,495. Insiders own 2.03% of the company’s stock.
A number of large investors have recently modified their holdings of CBS. Dupont Capital Management Corp bought a new position in shares of CBS Corporation in the second quarter worth approximately $102,000. Israel Discount Bank of New York purchased a new stake in shares of CBS Corporation in the first quarter worth $114,000. Parallel Advisors LLC increased its stake in shares of CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after purchasing an additional 532 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of CBS Corporation by 31.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock worth $187,000 after purchasing an additional 701 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of CBS Corporation in the second quarter worth $205,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.
About CBS Corporation
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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