FBR Capital Revises Estimates on CBS Corp. (CBS) Closer to Street; Reiterates Outperform

FBR Capital reiterated an Outperform rating and $66.00 price target on CBS (NYSE: CBS) after revising estimates towards the Street's estimates. Higher NFL costs, a higher mix of fixed-rate cable subscribers at Showtime, and the absence of year-ago Bell Canada revenues at Showtime, all contribute to the lower estimates.

Analyst William Bird commented, "We are lowering our Street-high 2015 EPS estimate to $3.35 (from $3.46), versus the Street consensus of $3.34, to reflect higher NFL costs, a higher mix of fixed-rate cable subscribers at Showtime, and the absence of year-ago Bell Canada revenues at Showtime. There is no change to our underlying TV assumptions. We maintain our Outperform rating."

For an analyst ratings summary and ratings history on CBS click here. For more ratings news on CBS click here.

Shares of CBS closed at $50.78 yesterday.

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