Brokerages Expect CBS Co. (CBS) to Announce $1.23 EPS

Equities analysts forecast that CBS Co. (NYSE:CBS) will post earnings of $1.23 per share for the current fiscal quarter, Zacks Investment Research reports. Twenty Eight analysts have provided estimates for CBS’s earnings, with the highest EPS estimate coming in at $1.33 and the lowest estimate coming in at $1.16. CBS posted earnings per share of $1.11 during the same quarter last year, which indicates a positive year over year growth rate of 10.8%. The firm is expected to announce its next earnings results after the market closes on Thursday, November 1st.

On average, analysts expect that CBS will report full-year earnings of $5.24 per share for the current year, with EPS estimates ranging from $5.10 to $5.29. For the next financial year, analysts anticipate that the firm will post earnings of $5.86 per share, with EPS estimates ranging from $5.22 to $6.23. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow CBS.

CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.46 billion. CBS had a return on equity of 81.10% and a net margin of 10.21%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS.

A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price objective on CBS from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. UBS Group lowered CBS from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $72.00 to $60.00 in a research report on Monday, September 10th. Barrington Research reiterated a “buy” rating and issued a $73.00 price objective on shares of CBS in a research report on Monday, September 10th. ValuEngine upgraded CBS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Argus lowered CBS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $65.86.

Shares of CBS stock traded up $1.73 during trading hours on Monday, reaching $57.05. The company’s stock had a trading volume of 6,292,700 shares, compared to its average volume of 3,843,167. The firm has a market cap of $21.60 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.72 and a beta of 1.36. CBS has a one year low of $47.54 and a one year high of $61.59. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.10 and a current ratio of 1.60.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 10th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.26%. CBS’s dividend payout ratio is presently 17.18%.

In other CBS news, EVP Anthony G. Ambrosio sold 11,697 shares of CBS stock in a transaction on Friday, September 28th. The stock was sold at an average price of $57.53, for a total transaction of $672,928.41. Following the completion of the transaction, the executive vice president now owns 80,950 shares in the company, valued at $4,657,053.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony G. Ambrosio sold 2,100 shares of CBS stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $55.16, for a total value of $115,836.00. The disclosure for this sale can be found here. Insiders have sold 29,476 shares of company stock worth $1,683,565 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in CBS. Private Capital Group LLC raised its stake in CBS by 430.9% during the first quarter. Private Capital Group LLC now owns 2,076 shares of the media conglomerate’s stock valued at $107,000 after buying an additional 1,685 shares during the last quarter. Squar Milner Financial Services LLC purchased a new position in CBS during the second quarter valued at $122,000. Greenleaf Trust purchased a new position in CBS during the second quarter valued at $240,000. Mathes Company Inc. purchased a new position in CBS during the second quarter valued at $250,000. Finally, Dupont Capital Management Corp raised its stake in CBS by 101.9% during the second quarter. Dupont Capital Management Corp now owns 5,190 shares of the media conglomerate’s stock valued at $292,000 after buying an additional 2,620 shares during the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.

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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