$3.32 Billion in Sales Expected for CBS Corporation (CBS) This Quarter

Equities analysts expect CBS Corporation (NYSE:CBS) to post $3.32 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for CBS Corporation’s earnings. The lowest sales estimate is $3.22 billion and the highest is $3.43 billion. CBS Corporation reported sales of $3.40 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, November 2nd.

On average, analysts expect that CBS Corporation will report full-year sales of $3.32 billion for the current financial year, with estimates ranging from $13.39 billion to $13.81 billion. For the next year, analysts forecast that the company will post sales of $14.16 billion per share, with estimates ranging from $13.90 billion to $14.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CBS Corporation.

CBS Corporation (NYSE:CBS) last issued its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year.

Several analysts recently commented on the company. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC set a $57.00 price objective on CBS Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Argus reaffirmed a “buy” rating and issued a $79.00 price objective (up previously from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $77.00 target price (up from $75.00) on shares of CBS Corporation in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $74.67.

In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $65.40, for a total transaction of $344,658.00. Following the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total value of $9,702,000.00. Following the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at $76,493,931.36. The disclosure for this sale can be found here. Insiders have sold 517,568 shares of company stock worth $31,245,604 over the last three months. 1.67% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dupont Capital Management Corp bought a new stake in CBS Corporation during the second quarter worth approximately $102,000. Parallel Advisors LLC increased its stake in CBS Corporation by 42.5% during the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after acquiring an additional 532 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in CBS Corporation by 31.4% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock worth $187,000 after acquiring an additional 701 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in CBS Corporation during the second quarter worth approximately $205,000. Finally, Bridgewater Wealth & Financial Management LLC increased its stake in CBS Corporation by 12.3% during the second quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock worth $218,000 after acquiring an additional 374 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

CBS Corporation (CBS) opened at 57.83 on Friday. The stock has a market cap of $23.23 billion, a PE ratio of 147.15 and a beta of 1.68. The stock’s 50 day moving average price is $58.90 and its 200-day moving average price is $63.00. CBS Corporation has a 12 month low of $54.93 and a 12 month high of $70.10.

The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. CBS Corporation’s dividend payout ratio is currently 211.76%.

WARNING: “$3.32 Billion in Sales Expected for CBS Corporation (CBS) This Quarter” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/20/3-32-billion-in-sales-expected-for-cbs-corporation-cbs-this-quarter.html.

About CBS Corporation

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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On average, analysts expect that CBS Corporation will report full-year sales of $3.32 billion for the current financial year, with estimates ranging from $13.39 billion to $13.81 billion. For the next year, analysts forecast that the company will post sales of $14.16 billion per share, with estimates ranging from $13.90 billion to $14.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CBS Corporation.

CBS Corporation (NYSE:CBS) last issued its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year.

Several analysts recently commented on the company. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC set a $57.00 price objective on CBS Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Argus reaffirmed a “buy” rating and issued a $79.00 price objective (up previously from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $77.00 target price (up from $75.00) on shares of CBS Corporation in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $74.67.

In other CBS Corporation news, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $65.40, for a total transaction of $344,658.00. Following the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total value of $9,702,000.00. Following the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at $76,493,931.36. The disclosure for this sale can be found here. Insiders have sold 517,568 shares of company stock worth $31,245,604 over the last three months. 1.67% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dupont Capital Management Corp bought a new stake in CBS Corporation during the second quarter worth approximately $102,000. Parallel Advisors LLC increased its stake in CBS Corporation by 42.5% during the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after acquiring an additional 532 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in CBS Corporation by 31.4% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock worth $187,000 after acquiring an additional 701 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in CBS Corporation during the second quarter worth approximately $205,000. Finally, Bridgewater Wealth & Financial Management LLC increased its stake in CBS Corporation by 12.3% during the second quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock worth $218,000 after acquiring an additional 374 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

CBS Corporation (CBS) opened at 57.83 on Friday. The stock has a market cap of $23.23 billion, a PE ratio of 147.15 and a beta of 1.68. The stock’s 50 day moving average price is $58.90 and its 200-day moving average price is $63.00. CBS Corporation has a 12 month low of $54.93 and a 12 month high of $70.10.

The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. CBS Corporation’s dividend payout ratio is currently 211.76%.

WARNING: “$3.32 Billion in Sales Expected for CBS Corporation (CBS) This Quarter” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/20/3-32-billion-in-sales-expected-for-cbs-corporation-cbs-this-quarter.html.

About CBS Corporation

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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Earnings History and Estimates for CBS Corporation (NYSE:CBS)

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