Zacks: Brokerages Anticipate CBS Co. Common Stock (CBS) Will Post Quarterly Sales of $3.25 Billion

Equities research analysts expect CBS Co. Common Stock (NYSE:CBS) to announce sales of $3.25 billion for the current quarter, according to Zacks Investment Research. Twenty Eight analysts have provided estimates for CBS Co. Common Stock’s earnings, with estimates ranging from $3.12 billion to $3.46 billion. CBS Co. Common Stock posted sales of $3.17 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The company is expected to announce its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that CBS Co. Common Stock will report full-year sales of $14.64 billion for the current financial year, with estimates ranging from $14.28 billion to $14.99 billion. For the next financial year, analysts anticipate that the company will report sales of $15.68 billion per share, with estimates ranging from $15.21 billion to $16.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow CBS Co. Common Stock.

CBS Co. Common Stock (NYSE:CBS) last announced its earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.46 billion. CBS Co. Common Stock had a net margin of 10.21% and a return on equity of 81.10%. CBS Co. Common Stock’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share.

A number of equities research analysts recently weighed in on the stock. TheStreet raised shares of CBS Co. Common Stock from a “c+” rating to a “b-” rating in a research note on Wednesday, June 27th. Imperial Capital assumed coverage on shares of CBS Co. Common Stock in a research note on Thursday, June 28th. They issued an “outperform” rating and a $71.00 target price on the stock. Barrington Research reissued a “buy” rating and set a $73.00 price target on shares of CBS Co. Common Stock in a research note on Monday, September 10th. Loop Capital Mk reissued a “buy” rating on shares of CBS Co. Common Stock in a research note on Friday, August 3rd. Finally, UBS Group downgraded shares of CBS Co. Common Stock from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $60.00 in a research note on Monday, September 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.31.

CBS traded down $0.36 on Friday, reaching $55.85. The company had a trading volume of 3,174,444 shares, compared to its average volume of 3,006,849. The company has a market capitalization of $20.73 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.70 and a beta of 1.40. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.60 and a quick ratio of 1.10. CBS Co. Common Stock has a 52-week low of $47.54 and a 52-week high of $61.59.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, September 7th. CBS Co. Common Stock’s dividend payout ratio is 17.18%.

In other news, COO Joseph R. Ianniello sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $56.47, for a total value of $2,823,500.00. Following the transaction, the chief operating officer now owns 346,057 shares in the company, valued at $19,541,838.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 2,100 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $55.16, for a total transaction of $115,836.00. The disclosure for this sale can be found here. Insiders sold 83,458 shares of company stock worth $4,712,631 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. grew its holdings in shares of CBS Co. Common Stock by 131.0% in the second quarter. Nomura Holdings Inc. now owns 15,404 shares of the media conglomerate’s stock worth $866,000 after purchasing an additional 65,115 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in CBS Co. Common Stock by 35.5% in the second quarter. Valeo Financial Advisors LLC now owns 36,359 shares of the media conglomerate’s stock valued at $1,899,000 after acquiring an additional 9,526 shares in the last quarter. Greenleaf Trust bought a new stake in CBS Co. Common Stock in the second quarter valued at $240,000. Rhumbline Advisers boosted its holdings in CBS Co. Common Stock by 8.3% in the second quarter. Rhumbline Advisers now owns 632,309 shares of the media conglomerate’s stock valued at $35,548,000 after acquiring an additional 48,680 shares in the last quarter. Finally, Signition LP bought a new stake in CBS Co. Common Stock in the second quarter valued at $512,000. Hedge funds and other institutional investors own 74.85% of the company’s stock.

CBS Co. Common Stock 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 Co. Common Stock (NYSE:CBS)

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