Equities Analysts Issue Forecasts for CBS Corporation’s FY2017 Earnings (CBS)
CBS Corporation (NYSE:CBS) – Equities research analysts at Jefferies Group lowered their FY2017 earnings per share (EPS) estimates for shares of CBS in a report released on Thursday. Jefferies Group analyst J. Janedis now expects that the media conglomerate will post earnings of $4.35 per share for the year, down from their prior forecast of $4.42. Jefferies Group currently has a “Buy” rating and a $66.00 target price on the stock. Jefferies Group also issued estimates for CBS’s Q4 2017 earnings at $1.14 EPS, Q2 2018 earnings at $1.25 EPS, Q3 2018 earnings at $1.46 EPS and Q4 2018 earnings at $1.37 EPS.
A number of other analysts have also recently weighed in on CBS. ValuEngine cut shares of CBS from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective on shares of CBS in a research report on Wednesday, September 13th. Rosenblatt Securities reissued a “buy” rating and issued a $80.00 price objective on shares of CBS in a research report on Wednesday, September 20th. Cowen reissued a “buy” rating on shares of CBS in a research report on Thursday, September 21st. Finally, Benchmark reissued a “buy” rating and issued a $81.00 price objective on shares of CBS in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $72.26.
CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. CBS had a net margin of 2.14% and a return on equity of 58.49%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the company earned $1.05 EPS. The firm’s revenue was up 2.8% on a year-over-year basis.
Several large investors have recently made changes to their positions in CBS. LSV Asset Management increased its stake in shares of CBS by 3.5% in the second quarter. LSV Asset Management now owns 356,700 shares of the media conglomerate’s stock valued at $22,750,000 after purchasing an additional 12,000 shares during the period. IFM Investors Pty Ltd acquired a new stake in shares of CBS in the second quarter valued at approximately $654,000. Eaton Vance Management increased its stake in shares of CBS by 27.8% in the second quarter. Eaton Vance Management now owns 734,531 shares of the media conglomerate’s stock valued at $46,848,000 after purchasing an additional 159,924 shares during the period. Systematic Financial Management LP increased its stake in shares of CBS by 106.2% in the second quarter. Systematic Financial Management LP now owns 223,437 shares of the media conglomerate’s stock valued at $14,251,000 after purchasing an additional 115,100 shares during the period. Finally, Marathon Capital Management increased its stake in shares of CBS by 4.3% in the second quarter. Marathon Capital Management now owns 33,515 shares of the media conglomerate’s stock valued at $2,138,000 after purchasing an additional 1,375 shares during the period. Institutional investors own 74.77% of the company’s stock.
In other CBS news, CEO Leslie Moonves sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $57.62, for a total value of $8,643,000.00. Following the sale, the chief executive officer now owns 1,182,652 shares in the company, valued at $68,144,408.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arnold Kopelson sold 5,093 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $59.51, for a total transaction of $303,084.43. The disclosure for this sale can be found here. Insiders sold 250,279 shares of company stock worth $14,437,978 in the last 90 days. 1.67% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Monday, December 11th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, December 8th. This represents a $0.72 annualized dividend and a yield of 1.24%. CBS’s dividend payout ratio (DPR) is 98.63%.
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CBS Company Profile
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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