CBS Co. (NYSE:CBS) – Equities researchers at Macquarie boosted their Q1 2018 EPS estimates for shares of CBS in a note issued to investors on Monday, April 9th. Macquarie analyst T. Nollen now forecasts that the media conglomerate will post earnings of $1.18 per share for the quarter, up from their previous estimate of $1.14. Macquarie currently has a “Neutral” rating and a $60.00 price target on the stock. Macquarie also issued estimates for CBS’s Q1 2019 earnings at $1.55 EPS, Q1 2020 earnings at $1.78 EPS, FY2020 earnings at $7.03 EPS and FY2021 earnings at $7.99 EPS.
CBS has been the subject of a number of other research reports. Pivotal Research reaffirmed a “hold” rating and set a $64.00 price objective on shares of CBS in a research report on Friday, February 16th. Stephens lowered shares of CBS from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $72.00 to $64.00 in a research report on Monday, January 22nd. Piper Jaffray set a $70.00 price objective on shares of CBS and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Wells Fargo reaffirmed an “outperform” rating and set a $70.00 price objective (down previously from $75.00) on shares of CBS in a research report on Thursday, January 4th. Finally, ValuEngine lowered shares of CBS from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CBS has an average rating of “Buy” and a consensus price target of $69.19.
CBS (NYSE:CBS) last released its earnings results on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.06. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.71 billion. CBS had a net margin of 2.61% and a return on equity of 67.23%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS.
The firm also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 9th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, March 8th. CBS’s dividend payout ratio (DPR) is presently 17.18%.
In other CBS news, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $60.13, for a total transaction of $144,312.00. Following the sale, the chief operating officer now directly owns 320,723 shares of the company’s stock, valued at $19,285,073.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $50.46, for a total transaction of $4,289,100.00. Following the sale, the chief executive officer now directly owns 915,531 shares in the company, valued at $46,197,694.26. The disclosure for this sale can be found here. Insiders sold 306,284 shares of company stock valued at $17,069,668 in the last three months. Company insiders own 1.67% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB grew its stake in shares of CBS by 3.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 65,958 shares of the media conglomerate’s stock valued at $3,892,000 after purchasing an additional 2,041 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of CBS by 12.5% during the fourth quarter. Toronto Dominion Bank now owns 155,517 shares of the media conglomerate’s stock valued at $9,176,000 after purchasing an additional 17,240 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of CBS by 53.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,419 shares of the media conglomerate’s stock valued at $1,264,000 after purchasing an additional 7,436 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of CBS during the third quarter valued at approximately $1,469,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of CBS by 31.5% during the third quarter. Janney Montgomery Scott LLC now owns 55,580 shares of the media conglomerate’s stock valued at $3,224,000 after purchasing an additional 13,313 shares during the last quarter. 77.93% of the stock is currently owned by hedge funds and other institutional investors.
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CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
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