StockNews.com Downgrades Paramount Global (NASDAQ:PARA) to Sell

StockNews.com lowered shares of Paramount Global (NASDAQ:PARA) from a hold rating to a sell rating in a report published on Tuesday.

A number of other equities analysts have also recently commented on PARA. Needham & Company LLC cut shares of Paramount Global from a buy rating to a hold rating in a research note on Tuesday. Morgan Stanley reduced their price objective on Paramount Global from $11.00 to $10.00 and set an underweight rating on the stock in a research note on Tuesday, February 27th. Wolfe Research raised Paramount Global from an underperform rating to a peer perform rating in a research note on Thursday, April 4th. Rosenblatt Securities reiterated a neutral rating and issued a $13.00 target price on shares of Paramount Global in a report on Tuesday, April 9th. Finally, Wells Fargo & Company decreased their price target on Paramount Global from $15.00 to $14.00 and set an equal weight rating on the stock in a report on Tuesday. Ten research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $13.58.

Paramount Global Trading Down 7.0 %

Shares of Paramount Global stock opened at $12.89 on Tuesday. Paramount Global has a twelve month low of $10.12 and a twelve month high of $19.04. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $11.52 and a 200-day moving average price of $12.88. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -85.93, a PEG ratio of 0.42 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. Equities research analysts anticipate that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company 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 $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. Paramount Global’s payout ratio is -133.32%.

Institutional Investors Weigh In On Paramount Global

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Paramount Global by 541.7% in the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after acquiring an additional 598,235 shares during the period. Ariel Investments LLC lifted its position in shares of Paramount Global by 18.0% in the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after purchasing an additional 1,731,714 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Paramount Global during the third quarter valued at approximately $1,240,000. Caprock Group LLC increased its holdings in Paramount Global by 2.9% during the fourth quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after buying an additional 1,401 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Paramount Global by 1,201.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock worth $1,282,000 after buying an additional 78,100 shares in the last quarter. 73.00% of the stock is owned by 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.