Paramount Global (NASDAQ:PARA) Lifted to “Hold” at StockNews.com

Paramount Global (NASDAQ:PARA) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other brokerages have also recently weighed in on PARA. Seaport Res Ptn cut shares of Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research report on Tuesday, January 9th. Finally, Raymond James restated a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.58.

Paramount Global Trading Down 3.0 %

Shares of NASDAQ:PARA opened at $12.89 on Wednesday. The stock has a market cap of $8.59 billion, a PE ratio of -85.93, a P/E/G ratio of 0.39 and a beta of 1.74. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. Paramount Global has a 12-month low of $10.12 and a 12-month high of $17.50. The business has a 50 day moving average of $11.63 and a 200-day moving average of $12.91.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion during 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 firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, equities research analysts forecast that Paramount Global will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Paramount Global

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock valued at $862,058,000 after buying an additional 626,256 shares during the last quarter. Invesco Ltd. grew its stake in shares of Paramount Global by 9.4% in the third quarter. Invesco Ltd. now owns 14,832,568 shares of the company’s stock worth $191,340,000 after purchasing an additional 1,272,851 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Paramount Global by 15.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock valued at $171,567,000 after purchasing an additional 1,767,173 shares during the period. Ariel Investments LLC raised its position in Paramount Global by 18.0% during 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 last quarter. Finally, Kodai Capital Management LP acquired a new position in Paramount Global during the 4th quarter worth about $84,842,000. 73.00% of the stock is currently 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.