Wall Street brokerages expect CBS Co. Common Stock (NYSE:CBS) to announce sales of $3.25 billion for the current fiscal quarter, according to Zacks. Twenty Eight analysts have made estimates for CBS Co. Common Stock’s earnings, with the lowest sales estimate coming in at $3.12 billion and the highest estimate coming in at $3.46 billion. CBS Co. Common Stock posted sales of $3.17 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The company is expected to issue its next quarterly earnings report on Thursday, November 1st.
On average, analysts expect that CBS Co. Common Stock will report full-year sales of $14.64 billion for the current financial year, with estimates ranging from $14.28 billion to $14.99 billion. For the next financial year, analysts forecast that the firm will post sales of $15.68 billion per share, with estimates ranging from $15.21 billion to $16.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow CBS Co. Common Stock.
CBS Co. Common Stock (NYSE:CBS) last announced its quarterly earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.46 billion. CBS Co. Common Stock had a net margin of 10.21% and a return on equity of 81.10%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share.
A number of brokerages have commented on CBS. Cowen cut shares of CBS Co. Common Stock from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. Royal Bank of Canada set a $63.00 price target on shares of CBS Co. Common Stock and gave the company a “buy” rating in a research note on Friday, August 3rd. TheStreet upgraded shares of CBS Co. Common Stock from a “c+” rating to a “b-” rating in a research note on Wednesday, June 27th. ValuEngine upgraded shares of CBS Co. Common Stock from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Finally, Pivotal Research restated a “hold” rating and set a $53.00 target price on shares of CBS Co. Common Stock in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.31.
In related news, COO Joseph R. Ianniello sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $56.47, for a total transaction of $2,823,500.00. Following the transaction, the chief operating officer now directly owns 346,057 shares of the company’s stock, valued at $19,541,838.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Anthony G. Ambrosio sold 2,100 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $55.16, for a total transaction of $115,836.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,458 shares of company stock worth $4,712,631. 1.80% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in CBS. Becker Capital Management Inc. bought a new position in CBS Co. Common Stock during the second quarter worth about $24,385,000. Kovitz Investment Group Partners LLC increased its holdings in CBS Co. Common Stock by 31.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 1,758,992 shares of the media conglomerate’s stock valued at $90,395,000 after buying an additional 423,383 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in CBS Co. Common Stock by 507.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 431,475 shares of the media conglomerate’s stock valued at $24,258,000 after buying an additional 360,450 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in CBS Co. Common Stock in the 2nd quarter valued at about $12,798,000. Finally, South Dakota Investment Council increased its holdings in CBS Co. Common Stock by 101.8% in the 1st quarter. South Dakota Investment Council now owns 411,803 shares of the media conglomerate’s stock valued at $21,163,000 after buying an additional 207,739 shares during the period. 74.85% of the stock is currently owned by institutional investors and hedge funds.
CBS stock traded down $0.36 during trading hours on Friday, reaching $55.85. The stock had a trading volume of 3,174,444 shares, compared to its average volume of 3,006,849. The stock has a market cap of $20.73 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.70 and a beta of 1.40. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.60 and a quick ratio of 1.10. CBS Co. Common Stock has a fifty-two week low of $47.54 and a fifty-two week high of $61.59.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 10th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, September 7th. CBS Co. Common Stock’s dividend payout ratio is 17.18%.
About CBS Co. Common Stock
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
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