CBS Corporation (NYSE:CBS) – Investment analysts at Barrington Research lowered their Q4 2017 earnings per share estimates for shares of CBS Corporation in a research report issued on Wednesday. Barrington Research analyst J. Goss now expects that the media conglomerate will post earnings per share of $1.22 for the quarter, down from their previous estimate of $1.26. Barrington Research also issued estimates for CBS Corporation’s FY2019 earnings at $6.00 EPS.
Several other brokerages have also commented on CBS. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Wednesday, June 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Friday, April 14th. Royal Bank Of Canada set a $75.00 price objective on shares of CBS Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. BidaskClub raised shares of CBS Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Friday, April 14th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.94.
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Shares of CBS Corporation (NYSE:CBS) opened at 66.71 on Thursday. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 169.75 and a beta of 1.71. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10. The stock has a 50 day moving average of $64.79 and a 200-day moving average of $64.96.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business posted $0.93 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.08%. CBS Corporation’s dividend payout ratio is currently 211.76%.
In related news, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.96, for a total value of $538,695.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Leslie Moonves sold 200,000 shares of CBS Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,232,652 shares in the company, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. Insiders sold a total of 226,874 shares of company stock worth $14,499,946 in the last three months. 1.67% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp boosted its stake in CBS Corporation by 34.0% in the second quarter. Cibc World Markets Corp now owns 52,046 shares of the media conglomerate’s stock worth $3,319,000 after buying an additional 13,209 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of CBS Corporation by 2.7% in the second quarter. Thrivent Financial For Lutherans now owns 14,130 shares of the media conglomerate’s stock valued at $901,000 after buying an additional 370 shares during the period. Amalgamated Bank boosted its stake in shares of CBS Corporation by 53.2% in the second quarter. Amalgamated Bank now owns 42,344 shares of the media conglomerate’s stock valued at $2,701,000 after buying an additional 14,700 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of CBS Corporation by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 419,333 shares of the media conglomerate’s stock valued at $26,774,000 after buying an additional 2,817 shares during the period. Finally, Icon Advisers Inc. Co. boosted its stake in shares of CBS Corporation by 16.9% in the second quarter. Icon Advisers Inc. Co. now owns 59,504 shares of the media conglomerate’s stock valued at $3,795,000 after buying an additional 8,600 shares during the period. 75.42% of the stock is currently owned by hedge funds and other institutional investors.
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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