CBS Corporation (NYSE:CBS) - Barrington Research reduced their Q2 2017 EPS estimates for shares of CBS Corporation in a research report issued to clients and investors on Thursday. Barrington Research analyst J. Goss now anticipates that the media conglomerate will post earnings per share of $0.97 for the quarter, down from their previous estimate of $0.98. Barrington Research also issued estimates for CBS Corporation’s Q3 2017 earnings at $1.12 EPS.
CBS has been the topic of a number of other research reports. Wells Fargo & Company reiterated an “outperform” rating and set a $77.50 price target (up previously from $74.00) on shares of CBS Corporation in a report on Friday, April 7th. Nomura increased their price target on shares of CBS Corporation from $72.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Cowen and Company reiterated an “outperform” rating and set a $70.00 price target on shares of CBS Corporation in a report on Friday, May 5th. Telsey Advisory Group increased their price target on shares of CBS Corporation from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Friday, May 5th. Finally, Pivotal Research reiterated a “hold” rating and set a $67.00 price target on shares of CBS Corporation in a report on Sunday, April 23rd. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. CBS Corporation presently has a consensus rating of “Buy” and an average target price of $71.34.
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CBS Corporation (CBS) opened at 65.83 on Friday. The firm’s 50 day moving average is $62.79 and its 200 day moving average is $64.70. The company has a market cap of $26.72 billion, a PE ratio of 53.69 and a beta of 1.70. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10.
CBS Corporation (NYSE:CBS) last posted its earnings results on Thursday, May 4th. The media conglomerate reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.09. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the firm earned $1.02 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of CBS. Israel Discount Bank of New York bought a new position in CBS Corporation during the first quarter valued at $114,000. Ruggie Capital Group bought a new position in CBS Corporation during the first quarter valued at $120,000. State of Alaska Department of Revenue bought a new position in CBS Corporation during the first quarter valued at $157,000. Independent Portfolio Consultants Inc. boosted its position in CBS Corporation by 31.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock valued at $187,000 after buying an additional 701 shares during the last quarter. Finally, Holderness Investments Co. bought a new position in CBS Corporation during the first quarter valued at $203,000. 75.10% of the stock is owned by institutional investors.
In related news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total transaction of $520,891.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the transaction, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The disclosure for this sale can be found here. Insiders have sold a total of 213,437 shares of company stock worth $13,616,593 over the last 90 days. Insiders own 1.67% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.09%. CBS Corporation’s payout ratio is 63.72%.
CBS Corporation 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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