Paramount Global (NASDAQ:PARA) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Paramount Global (NASDAQ:PARA) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other equities analysts have also weighed in on the stock. Rosenblatt Securities reiterated a neutral rating and issued a $13.00 price objective on shares of Paramount Global in a research report on Tuesday. Morgan Stanley decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set an underweight rating on the stock in a research report on Tuesday, February 27th. Raymond James restated a market perform rating on shares of Paramount Global in a research report on Tuesday, March 26th. Benchmark cut their price target on Paramount Global from $30.00 to $19.00 and set a buy rating for the company in a research note on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $15.00 price target on shares of Paramount Global in a research note on Thursday, February 29th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $13.79.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $10.50 on Wednesday. The firm’s fifty day simple moving average is $11.88 and its 200-day simple moving average is $12.93. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -10.29, a PEG ratio of 0.41 and a beta of 1.77. Paramount Global has a 12 month low of $10.12 and a 12 month high of $24.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. During the same period in the previous year, the company posted $0.08 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that Paramount Global will post 1.17 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, March 14th. Paramount Global’s dividend payout ratio (DPR) is currently -19.61%.

Hedge Funds Weigh In On Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the business. VisionPoint Advisory Group LLC purchased a new position in shares of Paramount Global during the 3rd quarter valued at approximately $25,000. Anchor Investment Management LLC acquired a new stake in shares of Paramount Global during the 4th quarter valued at approximately $30,000. Archer Investment Corp acquired a new stake in shares of Paramount Global during the 4th quarter valued at approximately $30,000. Cornerstone Planning Group LLC acquired a new stake in shares of Paramount Global during the 2nd quarter valued at approximately $30,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Paramount Global during the 4th quarter valued at approximately $32,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.