Wall Street brokerages expect CBS Co. (NYSE:CBS) to report $1.17 earnings per share for the current quarter, Zacks reports. Twenty Seven analysts have issued estimates for CBS’s earnings, with estimates ranging from $1.08 to $1.23. CBS reported earnings per share of $1.11 during the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 15th.
According to Zacks, analysts expect that CBS will report full year earnings of $4.38 per share for the current financial year, with EPS estimates ranging from $4.34 to $4.45. For the next year, analysts anticipate that the business will report earnings of $5.04 per share, with EPS estimates ranging from $4.75 to $5.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow CBS.
CBS (NYSE:CBS) last released its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.26 billion. CBS had a return on equity of 58.49% and a net margin of 2.14%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS.
CBS (NYSE:CBS) traded down $2.25 during trading hours on Tuesday, hitting $57.75. The company’s stock had a trading volume of 6,220,000 shares, compared to its average volume of 4,040,000. The firm has a market cap of $23,140.00, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. CBS has a 52-week low of $52.75 and a 52-week high of $70.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10.
The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Monday, December 11th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. CBS’s payout ratio is presently 20.93%.
In related news, Director Bruce S. Gordon sold 5,093 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.50, for a total transaction of $282,661.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph R. Ianniello sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total value of $144,312.00. Following the sale, the chief operating officer now directly owns 320,723 shares of the company’s stock, valued at approximately $19,285,073.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,679 shares of company stock valued at $10,960,240. Insiders own 1.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBS. Sound Shore Management Inc. CT boosted its holdings in CBS by 32.8% in the third quarter. Sound Shore Management Inc. CT now owns 2,440,353 shares of the media conglomerate’s stock worth $141,540,000 after acquiring an additional 603,157 shares in the last quarter. Focused Investors LLC grew its position in shares of CBS by 43.0% in the third quarter. Focused Investors LLC now owns 1,624,900 shares of the media conglomerate’s stock valued at $94,244,000 after purchasing an additional 488,700 shares in the last quarter. PGGM Investments grew its position in shares of CBS by 136.1% in the third quarter. PGGM Investments now owns 579,591 shares of the media conglomerate’s stock valued at $33,616,000 after purchasing an additional 334,076 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of CBS in the fourth quarter valued at $19,014,000. Finally, Bank of Montreal Can boosted its stake in CBS by 22.2% during the fourth quarter. Bank of Montreal Can now owns 593,901 shares of the media conglomerate’s stock valued at $35,040,000 after buying an additional 107,808 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.
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CBS 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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