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

Investment analysts at StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark cut their price objective on Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Wednesday, April 2nd. Finally, Guggenheim reissued a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average target price of $11.58.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.68 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market cap of $7.83 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a 50 day moving average of $11.42 and a 200-day moving average of $11.05. Paramount Global has a 1-year low of $9.54 and a 1-year high of $13.40.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. During the same period last year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. Mattson Financial Services LLC acquired a new stake in Paramount Global in the fourth quarter worth $28,000. Ossiam grew its stake in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Paramount Global during the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

About Paramount Global

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.