CBS Corp. (NYSE:CBS) – Equities researchers at Jefferies Group reduced their Q3 2016 earnings per share (EPS) estimates for shares of CBS Corp. in a note issued to investors on Monday. Jefferies Group analyst J. Janedis now expects that the firm will earn $0.98 per share for the quarter, down from their prior estimate of $0.99. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for CBS Corp.’s Q3 2017 earnings at $1.06 EPS.
CBS Corp. (NYSE:CBS) last released its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the Zacks’ 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 business 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 earned $0.74 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year.
A number of other analysts also recently issued reports on the stock. Drexel Hamilton initiated coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $63.00 price objective on shares of CBS Corp. in a report on Sunday, July 31st. Zacks Investment Research raised shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Wednesday, July 20th. Telsey Advisory Group downgraded shares of CBS Corp. from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $67.00 to $57.00 in a report on Thursday, September 22nd. Finally, Argus reissued a “buy” rating and issued a $71.00 price objective on shares of CBS Corp. in a report on Tuesday, October 4th. Five research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $62.64.
CBS Corp. (NYSE:CBS) opened at 55.15 on Tuesday. The firm has a 50-day moving average of $52.78 and a 200-day moving average of $53.83. CBS Corp. has a 1-year low of $41.36 and a 1-year high of $58.22. The stock has a market cap of $24.52 billion, a PE ratio of 16.32 and a beta of 1.81.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a $0.18 dividend. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, September 7th. CBS Corp.’s payout ratio is presently 21.30%.
Hedge funds have recently added to or reduced their stakes in the stock. Societe Generale purchased a new stake in CBS Corp. during the second quarter valued at $109,000. M&R Capital Management Inc. purchased a new position in shares of CBS Corp. during the second quarter worth approximately $123,000. NN Investment Partners Holdings N.V. purchased a new position in shares of CBS Corp. during the first quarter worth approximately $141,000. Trust Department MB Financial Bank N A increased its position in shares of CBS Corp. by 457.3% in the second quarter. Trust Department MB Financial Bank N A now owns 2,809 shares of the media conglomerate’s stock worth $156,000 after buying an additional 2,305 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CBS Corp. during the second quarter worth approximately $159,000. Hedge funds and other institutional investors own 76.79% of the company’s stock.
CBS Corp. Company Profile
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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