Redstone Family Moves to Cement Control Over CBS

CBS Moonves fights possible Viacom merger

CBS Moonves fights possible Viacom merger

Trading for shares of CBS Corp (NYSE:CBS) will be watched closely today, as Bernstein boosted the stock to a solid rating of a Buy.

The sides are set to square off in court in DE today as they battle over the future of CBS, Viacom and Redstone's control of CBS through the National Amusements holding company. The stock of CBS Corporation (NYSE:CBS) has "Buy" rating given on Wednesday, March 28 by Citigroup. Financial Gravity Companies Inc. bought a new stake in shares of CBS during the 4th quarter worth $143,000. Following the completion of the sale, the chief executive officer now owns 993,159 shares of the company's stock, valued at approximately $54,703,197.72. Osborn Williams & Donohoe LLC increased its position in CBS by 11.1% during the fourth quarter. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. RI now owns 10,544 shares of the media conglomerate's stock worth $622,000 after purchasing an additional 1,005 shares during the last quarter. CBS presently has a consensus rating of "Buy" and a consensus price target of $69.63. Finally, Arrowstreet Capital Limited Partnership boosted its position in CBS by 242.5% during the fourth quarter. Dowling & Yahnke LLC now owns 8,202 shares of the media conglomerate's stock worth $422,000 after acquiring an additional 1,074 shares during the period. ValuEngine lowered shares of CBS from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Barrington Research reissued a "buy" rating and set a $73.00 price target on shares of CBS in a research report on Monday, May 7th. It turned negative, as 80 investors sold CBS Corporation shares while 278 reduced holdings. Finally, Pivotal Research reissued a "hold" rating and issued a $64.00 price target on shares of CBS in a report on Friday, February 16th.

A CBS special board committee has resisted that deal, citing in part concerns about corporate governance of the merged company. Xact Kapitalforvaltning AB now owns 65,958 shares of the media conglomerate's stock valued at $3,892,000 after buying an additional 2,041 shares during the last quarter.

In other CBS news, CEO Leslie Moonves sold 85,000 shares of the firm's stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $55.08, for a total transaction of $4,681,800.00.

Shares of CBS traded up $1.13, reaching $53.65, during trading hours on Tuesday, Marketbeat reports. 253,742 shares of the company's stock were exchanged, compared to its average volume of 4,098,715. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.74 and a beta of 1.49. CBS Co. has a fifty-two week low of $53.97 and a fifty-two week high of $55.44. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.13 and a current ratio of 1.52.

CBS (NYSE:CBS) last announced its earnings results on Thursday, May 3rd. TheStreet cut shares of CBS from a "b" rating to a "c" rating in a research note on Thursday, February 15th. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 330,000 shares of company stock valued at $17,174,900. The media conglomerate reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. The business had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. CBS had a net margin of 7.94% and a return on equity of 77.15%. CBS's profit will be $439.76 million for 11.73 P/E if the $1.16 EPS becomes a reality. The company's quarterly revenue was up 12.5% compared to the same quarter previous year. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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