Paramount Global (NASDAQ:PARA) Receives Average Rating of “Reduce” from Analysts

Paramount Global (NASDAQ:PARA) has received a consensus rating of “Reduce” from the twenty ratings firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $13.79.

Several equities analysts have commented on the stock. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 9th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th.

Institutional Investors Weigh In On Paramount Global

Several hedge funds have recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. raised its position in Paramount Global by 5.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock worth $220,000 after acquiring an additional 769 shares in the last quarter. Highlander Capital Management LLC raised its position in Paramount Global by 13.4% in the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after acquiring an additional 850 shares in the last quarter. Vident Advisory LLC increased its position in shares of Paramount Global by 5.9% in the fourth quarter. Vident Advisory LLC now owns 15,461 shares of the company’s stock valued at $229,000 after buying an additional 867 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Paramount Global by 3.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock valued at $431,000 after buying an additional 879 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Paramount Global by 0.7% in the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after buying an additional 887 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 13.4 %

PARA stock opened at $12.44 on Monday. The company’s 50 day moving average price is $11.52 and its 200 day moving average price is $12.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $24.00. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of -12.20, a PEG ratio of 0.44 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, equities research analysts anticipate that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is presently -19.61%.

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.