Wall Street brokerages expect CBS Co. (NYSE:CBS) to post sales of $3.45 billion for the current fiscal quarter, according to Zacks. Twenty Three analysts have issued estimates for CBS’s earnings. The lowest sales estimate is $3.26 billion and the highest is $3.56 billion. CBS posted sales of $3.26 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The firm is expected to announce its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that CBS will report full-year sales of $15.60 billion for the current year, with estimates ranging from $15.30 billion to $15.77 billion. For the next fiscal year, analysts forecast that the firm will report sales of $16.27 billion, with estimates ranging from $15.78 billion to $16.79 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for CBS.
CBS (NYSE:CBS) last announced its earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. CBS had a net margin of 20.13% and a return on equity of 55.03%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the business earned $1.12 EPS. The company’s revenue was up 9.7% on a year-over-year basis.
A number of research firms have recently weighed in on CBS. UBS Group set a $54.00 price target on shares of CBS and gave the stock a “hold” rating in a research note on Friday, August 9th. Wolfe Research raised shares of CBS from a “peer perform” rating to an “outperform” rating in a research report on Thursday, May 30th. Bank of America raised shares of CBS from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $63.00 in a research report on Wednesday, August 14th. ValuEngine cut shares of CBS from a “sell” rating to a “strong sell” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets cut shares of CBS from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $60.00 to $51.00 in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.21.
A number of hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of CBS in the first quarter valued at $284,000. Louisiana State Employees Retirement System grew its position in CBS by 4.0% during the first quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the media conglomerate’s stock valued at $875,000 after acquiring an additional 700 shares during the period. Retirement Systems of Alabama grew its position in CBS by 8.7% during the first quarter. Retirement Systems of Alabama now owns 275,751 shares of the media conglomerate’s stock valued at $13,106,000 after acquiring an additional 22,137 shares during the period. Pennsylvania Trust Co purchased a new stake in CBS during the first quarter valued at about $1,891,000. Finally, Wedbush Securities Inc. grew its position in CBS by 18.5% during the first quarter. Wedbush Securities Inc. now owns 5,813 shares of the media conglomerate’s stock valued at $276,000 after acquiring an additional 907 shares during the period. 73.28% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CBS traded down $2.06 during trading hours on Friday, hitting $41.41. 5,541,660 shares of the stock traded hands, compared to its average volume of 2,812,609. CBS has a fifty-two week low of $41.22 and a fifty-two week high of $59.56. The company has a current ratio of 1.65, a quick ratio of 1.14 and a debt-to-equity ratio of 2.15. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 0.69 and a beta of 1.17. The firm has a 50 day moving average price of $49.70 and a 200 day moving average price of $49.46.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. CBS’s payout ratio is presently 13.87%.
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
Read More: Options Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.