CBS Corporation (NYSE:CBS) – Research analysts at Jefferies Group raised their Q1 2018 earnings per share (EPS) estimates for CBS in a research report issued on Thursday. Jefferies Group analyst J. Janedis now anticipates that the media conglomerate will earn $1.08 per share for the quarter, up from their prior forecast of $1.06. Jefferies Group has a “Buy” rating and a $66.00 price target on the stock. Jefferies Group also issued estimates for CBS’s FY2018 earnings at $5.16 EPS, Q1 2019 earnings at $1.27 EPS, Q4 2019 earnings at $1.40 EPS, FY2019 earnings at $5.52 EPS and FY2021 earnings at $6.21 EPS.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of CBS from a “sell” rating to a “hold” rating in a research report on Monday. Wells Fargo & Co reiterated an “outperform” rating and set a $70.00 price target (down previously from $75.00) on shares of CBS in a research report on Thursday, January 4th. Piper Jaffray Companies set a $70.00 price target on shares of CBS and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Macquarie cut shares of CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Tuesday, January 2nd. Finally, ValuEngine cut shares of CBS from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $72.15.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. CBS had a net margin of 2.14% and a return on equity of 58.49%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Monday, December 11th were issued a dividend of $0.18 per share. 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 1.27%. CBS’s payout ratio is 20.93%.
In related news, Director Charles K. Gifford sold 5,093 shares of CBS stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.33, for a total transaction of $291,981.69. Following the completion of the sale, the director now owns 70,273 shares in the company, valued at approximately $4,028,751.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Leslie Moonves sold 85,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total transaction of $4,917,250.00. Following the completion of the sale, the chief executive officer now owns 884,513 shares of the company’s stock, valued at approximately $51,169,077.05. The disclosure for this sale can be found here. Insiders have sold a total of 100,279 shares of company stock valued at $5,794,978 in the last quarter. 2.03% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Fred Alger Management Inc. raised its holdings in shares of CBS by 0.6% in the 2nd quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock valued at $311,252,000 after purchasing an additional 29,986 shares in the last quarter. Sound Shore Management Inc. CT raised its holdings in shares of CBS by 32.8% in the 3rd quarter. Sound Shore Management Inc. CT now owns 2,440,353 shares of the media conglomerate’s stock valued at $141,540,000 after purchasing an additional 603,157 shares in the last quarter. Focused Investors LLC raised its holdings in shares of CBS by 43.0% in the 3rd 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. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of CBS by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,147,664 shares of the media conglomerate’s stock valued at $66,565,000 after purchasing an additional 10,212 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of CBS by 0.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 751,312 shares of the media conglomerate’s stock valued at $43,576,000 after purchasing an additional 2,978 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.
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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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