CBS Co. (NYSE:CBS) – KeyCorp lifted their Q1 2018 EPS estimates for CBS in a research report issued on Thursday. KeyCorp analyst A. Hargreaves now anticipates that the media conglomerate will earn $1.22 per share for the quarter, up from their previous estimate of $1.15. KeyCorp also issued estimates for CBS’s Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.49 EPS, FY2018 earnings at $5.15 EPS, Q1 2019 earnings at $1.47 EPS, Q2 2019 earnings at $1.29 EPS, Q3 2019 earnings at $1.37 EPS, Q4 2019 earnings at $1.53 EPS and FY2019 earnings at $5.66 EPS.
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 analysts’ consensus estimates of $1.14 by $0.06. CBS had a return on equity of 62.15% and a net margin of 2.61%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the firm posted $1.11 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year.
Shares of CBS (NYSE:CBS) opened at $55.39 on Monday. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10. CBS has a 52 week low of $50.63 and a 52 week high of $70.10. The firm has a market capitalization of $22,170.00, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 0.81 and a beta of 1.50.
A number of hedge funds have recently modified their holdings of the stock. Parsons Capital Management Inc. RI boosted its position in CBS by 10.5% during the fourth quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock valued at $622,000 after purchasing an additional 1,005 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its position in CBS by 11.1% during the fourth quarter. Osborn Williams & Donohoe LLC now owns 10,986 shares of the media conglomerate’s stock valued at $648,000 after purchasing an additional 1,095 shares in the last quarter. FDx Advisors Inc. boosted its position in CBS by 3.1% during the third quarter. FDx Advisors Inc. now owns 40,738 shares of the media conglomerate’s stock valued at $2,363,000 after purchasing an additional 1,237 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in CBS by 2.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 67,044 shares of the media conglomerate’s stock valued at $3,956,000 after purchasing an additional 1,406 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in CBS by 5.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 28,372 shares of the media conglomerate’s stock valued at $1,674,000 after purchasing an additional 1,437 shares in the last quarter. 75.31% of the stock is currently owned by institutional investors.
In related news, COO Joseph R. Ianniello sold 2,263 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $60.00, for a total transaction of $135,780.00. Following the sale, the chief operating officer now owns 551,494 shares of the company’s stock, valued at $33,089,640. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arnold Kopelson sold 5,093 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $59.51, for a total value of $303,084.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 226,377 shares of company stock worth $13,319,103. 1.67% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, March 8th. CBS’s payout ratio is currently 22.43%.
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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