CBS Corp. (NYSE:CBS) – FBR & Co decreased their FY2016 earnings estimates for CBS Corp. in a report issued on Friday. FBR & Co analyst B. Crockett now anticipates that the firm will post earnings per share of $4.08 for the year, down from their prior forecast of $4.09. FBR & Co also issued estimates for CBS Corp.’s FY2017 earnings at $4.42 EPS, FY2018 earnings at $5.55 EPS, FY2019 earnings at $6.52 EPS and FY2020 earnings at $6.87 EPS.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The firm earned $3.29 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the company posted $0.74 EPS. CBS Corp.’s revenue was up 2.1% on a year-over-year basis.
CBS has been the topic of a number of other research reports. Telsey Advisory Group lowered shares of CBS Corp. from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $67.00 to $57.00 in a research report on Thursday, September 22nd. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of CBS Corp. in a research report on Saturday, July 2nd. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research report on Monday, September 12th. Wells Fargo & Co. restated an “outperform” rating on shares of CBS Corp. in a research report on Saturday, June 25th. Finally, Argus restated a “buy” rating and set a $71.00 target price on shares of CBS Corp. in a research report on Tuesday, October 4th. Five analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $62.64.
Shares of CBS Corp. (NYSE:CBS) opened at 55.10 on Monday. The firm’s 50-day moving average is $53.18 and its 200-day moving average is $53.83. CBS Corp. has a 12-month low of $41.36 and a 12-month high of $58.22. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 16.30 and a beta of 1.81.
Institutional investors have recently made changes to their positions in the stock. Old Mutual Global Investors UK Ltd. raised its stake in CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock worth $102,515,000 after buying an additional 1,882,927 shares in the last quarter. Bessemer Group Inc. raised its stake in CBS Corp. by 328,599.6% in the second quarter. Bessemer Group Inc. now owns 1,643,498 shares of the media conglomerate’s stock worth $89,471,000 after buying an additional 1,642,998 shares in the last quarter. Cibc World Markets Corp bought a new stake in CBS Corp. during the second quarter worth about $72,230,000. Numeric Investors LLC raised its stake in CBS Corp. by 18,395.6% in the second quarter. Numeric Investors LLC now owns 1,183,718 shares of the media conglomerate’s stock worth $64,442,000 after buying an additional 1,177,318 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in CBS Corp. during the first quarter worth about $51,458,000. Institutional investors own 76.80% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.31%. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, September 7th. CBS Corp.’s dividend payout ratio (DPR) is 21.30%.
About CBS Corp.
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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