<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="CBS Corporation CBS is set to release second-quarter 2019 results on Aug 8.
The company’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters, the average negative surprise being 0.04%.
In the last reported quarter, earnings of $1.37 per share missed the Zacks Consensus Estimate by a penny.
Revenues increased 10.8% from the year-ago quarter to $4.17 billion, owing to the success of Super Bowl LIII. However, the figure missed the consensus mark of $4.3 billion.
The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $3.71 billion, indicating 7% growth from the figure reported in the year-ago quarter.
Moreover, the Zacks Consensus Estimate for earnings stands at $1.13, couple of cents down over the past 30 days, suggesting growth of almost 1% from the year-ago quarter’s reported figure.
” data-reactid=”11″>CBS Corporation CBS is set to release second-quarter 2019 results on Aug 8.
The company’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters, the average negative surprise being 0.04%.
In the last reported quarter, earnings of $1.37 per share missed the Zacks Consensus Estimate by a penny.
Revenues increased 10.8% from the year-ago quarter to $4.17 billion, owing to the success of Super Bowl LIII. However, the figure missed the consensus mark of $4.3 billion.
The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $3.71 billion, indicating 7% growth from the figure reported in the year-ago quarter.
Moreover, the Zacks Consensus Estimate for earnings stands at $1.13, couple of cents down over the past 30 days, suggesting growth of almost 1% from the year-ago quarter’s reported figure.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="CBS Corporation Price and EPS Surprise” data-reactid=”12″>CBS Corporation Price and EPS Surprise
CBS Corporation price-eps-surprise | CBS Corporation Quote
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Let’s see how things are shaping up prior to this announcement
Factors to Watch
CBS’ strong over-the-top (OTT) content slate along with the broadcast of popular events on its Television Network might positively impact its second-quarter 2019 top line.
The content strength of the company’s OTT services — CBS All Access and Showtime — is expected to boost subscriber growth, thereby driving ad revenues in the to-be-reported quarter.
Notably, The Twilight Zone, released on April 1, was the most-watched original premiere on CBS All Access. The company has renewed the show for a second season.
Moreover, Showtime released City on a Hill on Jun 16, which is a crime drama starring Kevin Bacon. Matt Damon and Ben Affleck are the executive producers of the show.
CBS’ content strength is also evident from the fact that it is increasingly licensing its content to streaming platform’s like Netflix NFLX and Amazon. Notably, CBS produced series, Dead to Me, was available on Netflix’s platform during the to-be-reported quarter. Additionally, the company’s increasing content licensing activities are likely to drive revenues in the second quarter.
Moreover, Disney is buying content (Diary of a Female President) from CBS TV Studios for its upcoming streaming service, Disney+, to cater to consumer demand. Further, CBS All Access and Showtime are also part of Apple’s upcoming streaming service Apple TV+.
Additionally, CBS and TEGNA inked a multi-year deal that renewed station affiliation agreements for 11 TEGNA markets nationwide, including two top 10 markets — Washington, D.C. and Houston, TX. These 11 markets cover 10% of the U.S. audience and nearly 11 million households.
What Our Model Says
According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has a good chance of beating estimates. The Sell-rated stocks (Zacks Rank #4 or 5) are best avoided.
CBS has a Zacks Rank #3 and an Earnings ESP of -0.17%. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.
Stocks With Favorable Combination
Here are some companies, which, per our model, have the right combination of elements to post an earnings beat this quarter:
Viacom VIAB has an Earnings ESP of +2.08% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
AMC Entertainment AMC has an Earnings ESP of +15.29% and a Zacks Rank #3.” data-reactid=”25″>Let’s see how things are shaping up prior to this announcement
Factors to Watch
CBS’ strong over-the-top (OTT) content slate along with the broadcast of popular events on its Television Network might positively impact its second-quarter 2019 top line.
The content strength of the company’s OTT services — CBS All Access and Showtime — is expected to boost subscriber growth, thereby driving ad revenues in the to-be-reported quarter.
Notably, The Twilight Zone, released on April 1, was the most-watched original premiere on CBS All Access. The company has renewed the show for a second season.
Moreover, Showtime released City on a Hill on Jun 16, which is a crime drama starring Kevin Bacon. Matt Damon and Ben Affleck are the executive producers of the show.
CBS’ content strength is also evident from the fact that it is increasingly licensing its content to streaming platform’s like Netflix NFLX and Amazon. Notably, CBS produced series, Dead to Me, was available on Netflix’s platform during the to-be-reported quarter. Additionally, the company’s increasing content licensing activities are likely to drive revenues in the second quarter.
Moreover, Disney is buying content (Diary of a Female President) from CBS TV Studios for its upcoming streaming service, Disney+, to cater to consumer demand. Further, CBS All Access and Showtime are also part of Apple’s upcoming streaming service Apple TV+.
Additionally, CBS and TEGNA inked a multi-year deal that renewed station affiliation agreements for 11 TEGNA markets nationwide, including two top 10 markets — Washington, D.C. and Houston, TX. These 11 markets cover 10% of the U.S. audience and nearly 11 million households.
What Our Model Says
According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has a good chance of beating estimates. The Sell-rated stocks (Zacks Rank #4 or 5) are best avoided.
CBS has a Zacks Rank #3 and an Earnings ESP of -0.17%. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.
Stocks With Favorable Combination
Here are some companies, which, per our model, have the right combination of elements to post an earnings beat this quarter:
Viacom VIAB has an Earnings ESP of +2.08% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
AMC Entertainment AMC has an Earnings ESP of +15.29% and a Zacks Rank #3.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Hottest Tech Mega-Trend of All” data-reactid=”26″>The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for regular investors who make the right trades early.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See Zacks’ 3 Best Stocks to Play This Trend >>” data-reactid=”28″>See Zacks’ 3 Best Stocks to Play This Trend >>
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Viacom Inc. (VIAB) : Free Stock Analysis Report
CBS Corporation (CBS) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
AMC Entertainment Holdings, Inc. (AMC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research” data-reactid=”29″>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Viacom Inc. (VIAB) : Free Stock Analysis Report
CBS Corporation (CBS) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
AMC Entertainment Holdings, Inc. (AMC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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