CBS Corporation (CBS) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $1.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.94. The company posted revenue of $3849.00 million in the period, compared to analysts expectations of $3829.62 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Many Wall Street Analysts have commented on CBS Corporation. Company shares were Reiterated by Wedbush on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 63 from a previous price target of $60 .RBC Capital Mkts Initiated CBS Corporation on Apr 8, 2016 to “Outperform”, Price Target of the shares are set at $68.Company shares were Reiterated by Barrington Research on Mar 31, 2016 to “Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $61 .
CBS Corporation opened for trading at $56.02 and hit $56.645 on the upside on Monday, eventually ending the session at $56.47, with a gain of 1.00% or 0.56 points. The heightened volatility saw the trading volume jump to 26,33,459 shares. Company has a market cap of $25,950 M.
In a different news, on Apr 22, 2016, Anthony G Ambrosio (Sr.EVP Chief Admin & HR Ofcr) sold 8,250 shares at $54.87 per share price. According to the SEC, on Mar 15, 2016, Joseph R Ianniello (Chief Operating Officer) sold 33,975 shares at $52.69 per share price. On Nov 19, 2015, Charles K Gifford (director) sold 17,827 shares at $51.20 per share price, according to the Form-4 filing with the securities and exchange commission.
CBS Corporation is a mass media company. The Company operates through segments including Entertainment Cable Networks Publishing and Local Broadcasting. The Entertainment segment is composed of the CBS Television Network CBS Television Studios CBS Global Distribution Group CBS Interactive and CBS Films. The Cable Networks segment is composed of Showtime Networks which operates program services such as Showtime The Movie Channel and Flix; CBS Sports Network and Smithsonian Networks which operates a program service Smithsonian Channel. The Publishing segment is composed of Simon & Schuster which publishes and distributes consumer books under imprints such as Simon & Schuster Pocket Books Scribner and Atria Books. The Local Broadcasting segment is composed of CBS Television Stations the Company’s 30 owned broadcast television stations and CBS Radio through which the Company owns and operates 117 radio stations in 26 United States markets.