Several matter pinch shares of Boston Scientific Corporation (NYSE:BSX) [Trend Analysis], as shares moving down -0.42% to $23.96 with a share volume of 13.13 Million. Boston Scientific Corp. (BSX) declared that its Q4 net income of $124 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Marlborough, Massachusetts-based company said it had profit of 9 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 30 cents per share. The results topped Wall Street expectations.
The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share. The medical device manufacturer posted revenue of $2.19 billion in the period, also beating Street forecasts. Eighteen analysts surveyed by Zacks expected $2.16 billion. For the year, the company declared net income of $347 million, or 25 cents per share, swinging to a profit in the period. Revenue was declared as $8.39 billion. The stock is going forward its 52-week low with 52.90% and moving down from its 52-week high price with -3.35%. To have technical analysis views, liquidity ratio of a company was calculated 1.10 as evaluated with its debt to equity ratio of 0.84. The float short ratio was 1.47%, as compared to sentiment indicator; Short Ratio was 2.40.
CBS Corporation (NYSE:CBS) [Trend Analysis] luring active investment momentum, shares an advance 0.17% to $64.60. Entercom Communications Corp. (ETM) along with CBS Corp. (CBS) reported they have entered into an contract by which Entercom will combine with CBS Radio in a tax-free merger.
The combination will be effected through a “Reverse Morris Trust” transaction. After completion of the merger, CBS Radio shareholders will receive approximately 105 million Entercom shares, or 72% of all outstanding shares of the combined company on a fully diluted basis. Existing Entercom shareholders will own 28% of the combined company on a fully diluted basis.
The transaction is expected to close during the second half of 2017. The deal will create a radio platform, with a nationwide footprint of 244 stations. The combined companies’ pro forma revenue on a trailing 12 months basis was approximately $1.7 billion and adjusted EBITDA was nearly $500 million, including expected transaction synergies. The merger will create a company with a market cap of over $2 billion. The total volume of 2.12 Million shares held in the session was surprisingly higher than its average volume of 4280.42 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at 18.90%, and looking further price to next year’s EPS is 8.26%. While take a short look on price to sales ratio, that was 2.09 and price to earnings ratio of 17.78 attracting passive investors.