CBS Corporation (CBS) Releases Earnings Results, Beats Expectations By $0.07 EPS

CBS Corporation (CBS) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.93 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.86. The company posted revenue of $3287.00 million in the period, compared to analysts expectations of $3214.26 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Many Wall Street Analysts have commented on CBS Corporation. UBS Downgraded CBS Corporation on Jul 15, 2016 to ” Sell”, Price Target of the shares are set at $52.Company shares were Reiterated by Telsey Advisory Group on May 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 67 from a previous price target of $63 .Company shares were Reiterated by Topeka Capital Markets on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $64 .

CBS Corporation opened for trading at $53.9 and hit $54.8 on the upside on Thursday, eventually ending the session at $54.21, with a gain of 0.20% or 0.11 points. The heightened volatility saw the trading volume jump to 65,17,778 shares. Company has a market cap of $24,559 M.

In a different news, on Jun 30, 2016, Anthony G Ambrosio (Sr.EVP Chief Admin & HR Ofcr) sold 8,500 shares at $52.76 per share price. According to the SEC, on May 6, 2016, Lawrence Tu (Sr.EVP, Chief Legal Officer) sold 28,104 shares at $57.17 per share price. On May 6, 2016, Jonathan Anschell (EVP, Deputy GC and Secretary) sold 8,946 shares at $57.09 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.

CBS Corporation

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