Paramount Global (NASDAQ:PARA) PT Lowered to $44.00 at Citigroup

Paramount Global (NASDAQ:PARAGet Rating) had its price target reduced by investment analysts at Citigroup from $47.00 to $44.00 in a research note issued to investors on Monday, The Fly reports. Citigroup’s target price suggests a potential upside of 34.80% from the company’s previous close.

A number of other research firms have also recently weighed in on PARA. Rosenblatt Securities started coverage on shares of Paramount Global in a research note on Tuesday, April 19th. They issued a “sell” rating and a $29.00 target price on the stock. StockNews.com started coverage on shares of Paramount Global in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Paramount Global in a research note on Friday, April 1st. They issued a “neutral” rating and a $42.00 target price on the stock. Zacks Investment Research raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Finally, UBS Group decreased their price objective on shares of Paramount Global from $33.00 to $29.00 in a research note on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.40.

NASDAQ:PARA opened at $32.64 on Monday. The stock’s 50-day moving average is $33.60. Paramount Global has a 52-week low of $26.11 and a 52-week high of $47.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.48 and a current ratio of 1.58. The company has a market cap of $21.19 billion, a P/E ratio of 5.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.58.

Paramount Global (NASDAQ:PARAGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Paramount Global had a net margin of 14.26% and a return on equity of 7.90%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, research analysts forecast that Paramount Global will post 2.66 EPS for the current fiscal year.

Paramount Global Company Profile (Get Rating)

Paramount Global operates as a media and entertainment company worldwide. The company distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24-hour cable channel that provides sports and related content, as well as streaming and cable subscription services.

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