CBS 'To Beat Estimates Handily', Analyst Says
"Closing Bell" will be ready yet again for earnings after the close today. CBS is set to report fourth quarter numbers. Analysts expect the broadcasting company to earn $0.43 per share, excluding one-time items, on revenue of $3.85 billion, according to Thomson Reuters.
Porter Bibb, Managing Partner at MediaTech Capital Partners expects CBS to “beat the street consensus estimate handily.” Bibb’s estimates are higher than the consensus estimates, looking for $0.47 to $0.48 per share. Revenue could come in as high as $4 billion, he said.
“Ad”-ding To Profits
Like its peers, CBS likely benefited from a rebounding ad recovery for the quarter. Ad sales aside, CBS’s “aggressive” cost cutting efforts probably also helped boost its bottom line, said Bibb. But Bibb said that won’t impact the quality of programming at television’s most-watched network.” Despite cuts, CBS has 7 of top 10 rated TV broadcast shows.
Still Bibb warns that with a current P/E of 30, “CBS is very full priced.”
Tune in to CNBC for a full breakdown of CBS’ earnings at 4PM ET.
Bibb of MediaTech Capital Partners has no disclosures.
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