CBS Corporation (CBS) Forecasted to Earn Q3 2017 Earnings of $1.10 Per Share

CBS Corporation (NYSE:CBS) – Stock analysts at Jefferies Group dropped their Q3 2017 EPS estimates for shares of CBS Corporation in a note issued to investors on Monday. Jefferies Group analyst J. Janedis now anticipates that the media conglomerate will post earnings per share of $1.10 for the quarter, down from their prior estimate of $1.12. Jefferies Group currently has a “Buy” rating and a $71.00 target price on the stock. Jefferies Group also issued estimates for CBS Corporation’s FY2017 earnings at $4.19 EPS, Q1 2019 earnings at $1.45 EPS, Q2 2019 earnings at $1.26 EPS and FY2019 earnings at $5.90 EPS.

CBS Corporation (NYSE:CBS) last issued its earnings results on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.29 billion. CBS Corporation had a net margin of 3.96% and a return on equity of 41.55%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share.

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Other analysts have also issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of CBS Corporation in a research report on Friday, May 12th. Pivotal Research reissued a “hold” rating and issued a $67.00 target price on shares of CBS Corporation in a report on Sunday, April 23rd. Benchmark Co. raised their price target on shares of CBS Corporation from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Nomura raised their price objective on shares of CBS Corporation from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, March 30th. Finally, Loop Capital reaffirmed a “buy” rating and set a $76.00 price objective on shares of CBS Corporation in a research report on Wednesday, March 15th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $71.31.

Shares of CBS Corporation (CBS) opened at 63.77 on Tuesday. CBS Corporation has a one year low of $48.88 and a one year high of $70.10. The company’s 50-day moving average is $61.88 and its 200-day moving average is $64.73. The company has a market capitalization of $25.89 billion, a PE ratio of 52.01 and a beta of 1.70.

A number of large investors have recently modified their holdings of CBS. GSB Wealth Management LLC raised its stake in shares of CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock worth $314,000 after buying an additional 12 shares during the period. WASHINGTON TRUST Co raised its position in CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock valued at $311,000 after buying an additional 37 shares during the last quarter. 1ST Source Bank raised its position in CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock valued at $300,000 after buying an additional 50 shares during the last quarter. Palladium Partners LLC raised its position in CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock valued at $244,000 after buying an additional 60 shares during the last quarter. Finally, First Financial Bank Trust Division raised its position in CBS Corporation by 2.5% in the second quarter. First Financial Bank Trust Division now owns 4,995 shares of the media conglomerate’s stock valued at $319,000 after buying an additional 120 shares during the last quarter. 75.23% of the stock is owned by institutional investors and hedge funds.

In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the completion of the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at approximately $3,865,433.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.03% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, June 7th. CBS Corporation’s dividend payout ratio (DPR) is presently 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.

Earnings History and Estimates for CBS Corporation (NYSE:CBS)

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