CBS Corporation (NYSE:CBS) released its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07, Briefing.com reports. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS.
Shares of CBS Corporation (CBS) opened at 64.80 on Friday. The firm has a market cap of $26.03 billion, a P/E ratio of 164.89 and a beta of 1.71. The company’s 50-day moving average price is $65.06 and its 200 day moving average price is $65.03. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is presently 211.76%.
Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in shares of CBS Corporation during the first quarter valued at $157,000. Columbus Circle Investors raised its position in shares of CBS Corporation by 89.8% in the first quarter. Columbus Circle Investors now owns 730,636 shares of the media conglomerate’s stock valued at $50,677,000 after buying an additional 345,676 shares in the last quarter. DnB Asset Management AS raised its position in shares of CBS Corporation by 17.1% in the first quarter. DnB Asset Management AS now owns 45,862 shares of the media conglomerate’s stock valued at $3,181,000 after buying an additional 6,700 shares in the last quarter. Reliance Trust Co. of Delaware raised its position in shares of CBS Corporation by 20.3% in the first quarter. Reliance Trust Co. of Delaware now owns 10,535 shares of the media conglomerate’s stock valued at $731,000 after buying an additional 1,775 shares in the last quarter. Finally, Regent Investment Management LLC raised its position in shares of CBS Corporation by 43.2% in the first quarter. Regent Investment Management LLC now owns 6,052 shares of the media conglomerate’s stock valued at $420,000 after buying an additional 1,825 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.
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Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a report on Wednesday, June 28th. BidaskClub upgraded CBS Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $71.00 target price on shares of CBS Corporation in a research report on Wednesday, June 14th. Telsey Advisory Group boosted their price objective on CBS Corporation from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Friday, May 5th. Finally, Royal Bank Of Canada set a $75.00 price objective on CBS Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.94.
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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