StockNews.com Begins Coverage on Paramount Global (NASDAQ:PARA)

Research analysts at StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA) in a report released on Wednesday. The firm set a “hold” rating on the stock.

PARA has been the topic of several other reports. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group decreased their price target on Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Paramount Global presently has a consensus rating of “Hold” and a consensus price target of $11.92.

Paramount Global Stock Up 2.0 %

NASDAQ:PARA opened at $10.98 on Wednesday. The company has a market cap of $7.32 billion, a PE ratio of -1.34, a PEG ratio of 1.68 and a beta of 1.31. The stock has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $10.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, sell-side analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Contrarius Group Holdings Ltd bought a new stake in Paramount Global in the 4th quarter valued at $146,230,000. Norges Bank acquired a new stake in shares of Paramount Global during the fourth quarter worth $45,202,000. Slate Path Capital LP boosted its position in shares of Paramount Global by 42.3% in the fourth quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock valued at $131,650,000 after acquiring an additional 3,741,000 shares during the period. Two Sigma Investments LP acquired a new position in shares of Paramount Global in the fourth quarter valued at about $21,229,000. Finally, New Age Alpha Advisors LLC bought a new position in Paramount Global during the fourth quarter worth about $20,292,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.