Paramount Global (NASDAQ:PARA) Given Average Recommendation of “Reduce” by Brokerages

Shares of Paramount Global (NASDAQ:PARA) have been given an average rating of “Reduce” by the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.50.

PARA has been the topic of several recent analyst reports. Benchmark decreased their price objective on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. UBS Group decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. JPMorgan Chase & Co. 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 report on Wednesday, May 21st. Finally, Wall Street Zen began coverage on shares of Paramount Global in a report on Saturday, May 17th. They issued a “hold” rating on the stock.

Institutional Trading of Paramount Global

A number of large investors have recently made changes to their positions in PARA. Contrarius Group Holdings Ltd bought a new stake in shares of Paramount Global in the 4th quarter worth about $146,230,000. Norges Bank bought a new stake in shares of Paramount Global in the 4th quarter worth about $45,202,000. Slate Path Capital LP increased its holdings in shares of Paramount Global by 42.3% in the 4th quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock worth $131,650,000 after buying an additional 3,741,000 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Paramount Global in the 4th quarter worth about $21,229,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Paramount Global in the 4th quarter worth about $20,292,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Up 0.9%

Shares of PARA stock opened at $11.97 on Tuesday. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of -1.46, a PEG ratio of 1.68 and a beta of 1.25. Paramount Global has a one year low of $9.54 and a one year high of $13.05. The company’s fifty day moving average price is $11.47 and its 200-day moving average price is $11.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Sell-side analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

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.