CBS Corporation (NYSE:CBS) – FBR & Co reduced their Q3 2017 earnings per share (EPS) estimates for shares of CBS Corporation in a note issued to investors on Tuesday. FBR & Co analyst B. Crockett now anticipates that the media conglomerate will post earnings of $1.07 per share for the quarter, down from their previous forecast of $1.17. FBR & Co also issued estimates for CBS Corporation’s Q4 2017 earnings at $1.25 EPS, FY2017 earnings at $4.42 EPS and FY2020 earnings at $7.05 EPS.

CBS Corporation (NYSE:CBS) last announced 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. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. CBS Corporation’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. COPYRIGHT VIOLATION NOTICE: “Brokers Issue Forecasts for CBS Corporation’s Q3 2017 Earnings (CBS)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/11/02/brokers-issue-forecasts-for-cbs-corporations-q3-2017-earnings-cbs.html.

A number of other brokerages also recently issued reports on CBS. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC set a $57.00 price target on CBS Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Argus reaffirmed a “buy” rating and issued a $79.00 price target (up from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $77.00 price target (up from $75.00) on shares of CBS Corporation in a report on Tuesday, August 8th. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $74.60.

In related news, CEO Leslie Moonves sold 150,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total transaction of $9,702,000.00. Following the transaction, the chief executive officer now owns 1,182,652 shares of the company’s stock, valued at $76,493,931.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gil D. Schwartz sold 54,131 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.40, for a total value of $3,161,250.40. Following the transaction, the executive vice president now directly owns 102,483 shares in the company, valued at approximately $5,985,007.20. The disclosure for this sale can be found here. Insiders have sold 512,298 shares of company stock worth $30,900,946 in the last ninety days. 1.67% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of CBS. Teachers Retirement System of The State of Kentucky grew its holdings in CBS Corporation by 15.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 794,090 shares of the media conglomerate’s stock valued at $55,078,000 after purchasing an additional 106,848 shares during the last quarter. UBS Oconnor LLC grew its holdings in CBS Corporation by 115.6% in the first quarter. UBS Oconnor LLC now owns 75,140 shares of the media conglomerate’s stock valued at $5,212,000 after purchasing an additional 40,281 shares during the last quarter. Independent Portfolio Consultants Inc. grew its holdings in CBS Corporation by 31.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock valued at $187,000 after purchasing an additional 701 shares during the last quarter. Centre Asset Management LLC grew its holdings in CBS Corporation by 3.3% in the second quarter. Centre Asset Management LLC now owns 102,570 shares of the media conglomerate’s stock valued at $6,542,000 after purchasing an additional 3,310 shares during the last quarter. Finally, Bremer Trust National Association grew its holdings in CBS Corporation by 1.9% in the second quarter. Bremer Trust National Association now owns 30,511 shares of the media conglomerate’s stock valued at $1,946,000 after purchasing an additional 568 shares during the last quarter. 74.92% of the stock is currently owned by institutional investors.

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.

Earnings History and Estimates for CBS Corporation (NYSE:CBS)

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