$1.18 Earnings Per Share Expected for CBS Co. (CBS) This Quarter
Wall Street brokerages expect that CBS Co. (NYSE:CBS) will post earnings per share of $1.18 for the current fiscal quarter, Zacks reports. Twenty Eight analysts have provided estimates for CBS’s earnings. The highest EPS estimate is $1.23 and the lowest is $1.13. CBS reported earnings per share of $1.11 in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The business is expected to issue its next quarterly earnings results on Wednesday, February 21st.
On average, analysts expect that CBS will report full-year earnings of $4.39 per share for the current year, with EPS estimates ranging from $4.34 to $4.45. For the next year, analysts forecast that the company will report earnings of $5.02 per share, with EPS estimates ranging from $4.75 to $5.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CBS.
CBS (NYSE:CBS) last issued its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. CBS had a net margin of 13.69% and a return on equity of 59.65%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis.
In related news, Director Arnold Kopelson sold 5,093 shares of CBS stock in a transaction on Monday, December 4th. The shares were sold at an average price of $59.51, for a total transaction of $303,084.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Leslie Moonves sold 85,000 shares of CBS stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total transaction of $4,917,250.00. Following the transaction, the chief executive officer now owns 884,513 shares in the company, valued at approximately $51,169,077.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,279 shares of company stock worth $5,794,978. 2.03% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. purchased a new position in shares of CBS during the 2nd quarter valued at $340,000. Intellectus Partners LLC lifted its stake in shares of CBS by 8.4% during the 2nd quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock valued at $422,000 after buying an additional 509 shares in the last quarter. Green Square Capital LLC lifted its stake in shares of CBS by 18.4% during the 2nd quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock valued at $473,000 after buying an additional 1,150 shares in the last quarter. Baltimore Capital Management Inc. purchased a new position in shares of CBS during the 3rd quarter valued at $570,000. Finally, Murphy Capital Management Inc. lifted its stake in shares of CBS by 40.2% during the 3rd quarter. Murphy Capital Management Inc. now owns 10,435 shares of the media conglomerate’s stock valued at $605,000 after buying an additional 2,990 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.
Shares of CBS (NYSE:CBS) traded up $0.60 during mid-day trading on Tuesday, reaching $59.43. 5,818,800 shares of the company traded hands, compared to its average volume of 3,960,000. CBS has a 52 week low of $52.75 and a 52 week high of $70.10. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $23,800.00, a PE ratio of 17.28, a P/E/G ratio of 0.93 and a beta of 1.62.
The company also recently announced 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, December 8th. CBS’s dividend payout ratio (DPR) is 20.93%.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/01/16/1-18-earnings-per-share-expected-for-cbs-co-cbs-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.