CBS Co. (CBS) Expected to Announce Quarterly Sales of $4.32 Billion

Wall Street analysts expect CBS Co. (NYSE:CBS) to report $4.32 billion in sales for the current quarter, Zacks Investment Research reports. Twenty Six analysts have made estimates for CBS’s earnings, with the lowest sales estimate coming in at $4.20 billion and the highest estimate coming in at $4.44 billion. CBS posted sales of $3.76 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.9%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that CBS will report full-year sales of $15.65 billion for the current year, with estimates ranging from $15.35 billion to $15.91 billion. For the next financial year, analysts anticipate that the company will post sales of $16.28 billion, with estimates ranging from $15.80 billion to $16.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover CBS.

CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS.

A number of equities research analysts have weighed in on CBS shares. Goldman Sachs Group started coverage on CBS in a report on Thursday, November 29th. They issued a “neutral” rating and a $59.00 target price on the stock. Wolfe Research started coverage on CBS in a report on Friday, December 7th. They issued a “market perform” rating on the stock. Loop Capital reduced their target price on CBS from $68.00 to $59.00 in a report on Thursday, December 27th. Stephens raised CBS from an “equal weight” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Wednesday, January 2nd. Finally, TheStreet downgraded CBS from a “b-” rating to a “c+” rating in a report on Monday, December 31st. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. CBS has a consensus rating of “Buy” and an average target price of $64.10.

Shares of CBS stock traded down $0.46 during trading hours on Friday, reaching $48.24. The company’s stock had a trading volume of 5,809,755 shares, compared to its average volume of 3,013,207. The company has a market cap of $18.16 billion, a PE ratio of 9.29, a P/E/G ratio of 0.66 and a beta of 1.26. CBS has a fifty-two week low of $41.38 and a fifty-two week high of $59.59. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.04 and a current ratio of 1.48.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, March 8th. CBS’s dividend payout ratio (DPR) is 13.87%.

In related news, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the completion of the transaction, the director now directly owns 63,454 shares of the company’s stock, valued at approximately $3,258,362.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Anschell sold 20,730 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $50.11, for a total value of $1,038,780.30. Following the transaction, the executive vice president now directly owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Heritage Trust Co increased its position in CBS by 2.7% in the 4th quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock valued at $454,000 after buying an additional 275 shares in the last quarter. Regent Investment Management LLC increased its position in CBS by 2.1% in the 4th quarter. Regent Investment Management LLC now owns 14,437 shares of the media conglomerate’s stock valued at $631,000 after buying an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in CBS by 21.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock valued at $77,000 after buying an additional 307 shares in the last quarter. Nuveen Asset Management LLC increased its position in CBS by 0.7% in the 4th quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock valued at $2,362,000 after buying an additional 350 shares in the last quarter. Finally, CSat Investment Advisory L.P. boosted its stake in CBS by 17.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,596 shares of the media conglomerate’s stock valued at $113,000 after purchasing an additional 384 shares during the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.

CBS Company Profile

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: Backdoor Roth IRA Conversion and Strategy

Get a free copy of the Zacks research report on CBS (CBS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CBS (NYSE:CBS)

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.