CBS Co. (CBS) Expected to Post Earnings of $1.13 Per Share

Brokerages expect that CBS Co. (NYSE:CBS) will announce earnings per share (EPS) of $1.13 for the current quarter, according to Zacks. Twenty Eight analysts have made estimates for CBS’s earnings, with the lowest EPS estimate coming in at $1.01 and the highest estimate coming in at $1.27. CBS posted earnings of $1.04 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.7%. The firm is scheduled to issue its next earnings report on Monday, August 6th.

According to Zacks, analysts expect that CBS will report full year earnings of $5.24 per share for the current financial year, with EPS estimates ranging from $5.10 to $5.36. For the next year, analysts expect that the company will report earnings of $5.91 per share, with EPS estimates ranging from $5.26 to $6.37. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover CBS.

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

Several research analysts have recently issued reports on CBS shares. Loop Capital started coverage on shares of CBS in a report on Thursday, March 15th. They set a “buy” rating and a $75.00 price objective on the stock. Barrington Research restated a “buy” rating and set a $73.00 price objective on shares of CBS in a report on Monday, May 7th. Citigroup dropped their price objective on shares of CBS from $71.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 28th. TheStreet downgraded shares of CBS from a “b” rating to a “c” rating in a report on Thursday, February 15th. Finally, ValuEngine downgraded shares of CBS from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.47.

Shares of CBS traded up $0.27, hitting $52.02, on Wednesday, MarketBeat Ratings reports. 128,522 shares of the company were exchanged, compared to its average volume of 4,149,752. CBS has a one year low of $47.54 and a one year high of $68.75. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.13 and a current ratio of 1.52. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.70 and a beta of 1.49.

In other CBS news, CEO Leslie Moonves sold 75,000 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $51.53, for a total value of $3,864,750.00. Following the transaction, the chief executive officer now directly owns 670,531 shares in the company, valued at $34,552,462.43. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 330,000 shares of company stock worth $17,174,900. Company insiders own 1.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Parsons Capital Management Inc. RI boosted its position in CBS by 10.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock valued at $622,000 after buying an additional 1,005 shares in the last quarter. Dowling & Yahnke LLC boosted its position in CBS by 15.1% in the first quarter. Dowling & Yahnke LLC now owns 8,202 shares of the media conglomerate’s stock valued at $422,000 after buying an additional 1,074 shares in the last quarter. Venturi Wealth Management LLC boosted its position in CBS by 13.9% in the first quarter. Venturi Wealth Management LLC now owns 8,845 shares of the media conglomerate’s stock valued at $455,000 after buying an additional 1,080 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its position in CBS by 11.1% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 10,986 shares of the media conglomerate’s stock valued at $648,000 after buying an additional 1,095 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its position in CBS by 13.5% in the first quarter. Baker Avenue Asset Management LP now owns 10,367 shares of the media conglomerate’s stock valued at $533,000 after buying an additional 1,231 shares in the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.

About CBS

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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