CBS Co. (CBS) Expected to Announce Quarterly Sales of $3.47 Billion

Brokerages expect CBS Co. (NYSE:CBS) to report $3.47 billion in sales for the current quarter, according to Zacks Investment Research. Twenty Eight analysts have issued estimates for CBS’s earnings. The lowest sales estimate is $3.32 billion and the highest is $3.59 billion. CBS reported sales of $3.26 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.4%. The business is expected to announce its next earnings report on Monday, August 6th.

On average, analysts expect that CBS will report full year sales of $14.62 billion for the current fiscal year, with estimates ranging from $13.97 billion to $14.96 billion. For the next year, analysts expect that the firm will report sales of $15.64 billion per share, with estimates ranging from $14.92 billion to $16.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow CBS.

CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, May 3rd. The media conglomerate reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.65 billion. CBS had a net margin of 7.94% and a return on equity of 77.15%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share.

Several equities analysts have recently commented on the stock. Bank of America lowered shares of CBS from a “buy” rating to a “neutral” rating and set a $58.00 price target for the company. in a research report on Thursday. Sanford C. Bernstein upgraded shares of CBS from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $47.54 to $68.75 in a research report on Tuesday. Argus restated a “positive” rating and set a $79.00 price target on shares of CBS in a research report on Tuesday, May 8th. Stephens set a $58.00 price target on shares of CBS and gave the stock a “hold” rating in a research report on Monday, May 7th. Finally, Barrington Research restated a “buy” rating and set a $73.00 price target on shares of CBS in a research report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CBS presently has a consensus rating of “Buy” and a consensus target price of $69.12.

In related news, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $50.46, for a total value of $4,289,100.00. Following the completion of the sale, the chief executive officer now owns 915,531 shares of the company’s stock, valued at $46,197,694.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 330,000 shares of company stock valued at $17,174,900 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Markston International LLC acquired a new stake in CBS in the 1st quarter valued at about $100,000. Private Capital Group LLC lifted its holdings in CBS by 430.9% in the 1st quarter. Private Capital Group LLC now owns 2,076 shares of the media conglomerate’s stock valued at $107,000 after acquiring an additional 1,685 shares during the last quarter. Avestar Capital LLC acquired a new stake in CBS in the 4th quarter valued at about $119,000. We Are One Seven LLC acquired a new stake in CBS in the 4th quarter valued at about $137,000. Finally, Financial Gravity Companies Inc. acquired a new stake in CBS in the 4th quarter valued at about $143,000. 77.91% of the stock is owned by institutional investors and hedge funds.

CBS stock opened at $51.61 on Friday. The stock has a market cap of $20.62 billion, a PE ratio of 12.32, a PEG ratio of 0.76 and a beta of 1.49. The company has a debt-to-equity ratio of 4.78, a current ratio of 1.52 and a quick ratio of 1.13. CBS has a one year low of $53.76 and a one year high of $54.58.

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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Earnings History and Estimates for CBS (NYSE:CBS)

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