Paramount Global (NASDAQ:PARA) Stock Rating Lowered by Seaport Res Ptn

Paramount Global (NASDAQ:PARA) was downgraded by analysts at Seaport Res Ptn from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also commented on PARA. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, April 2nd. Benchmark decreased their price objective on Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Loop Capital boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. cut their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 21st. Finally, Citigroup reaffirmed a “neutral” rating and set a $12.00 target price (down previously from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.60.

Paramount Global Stock Up 1.6%

Shares of PARA stock opened at $13.25 on Monday. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.59. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average of $12.46 and a 200-day moving average of $11.69. The firm has a market cap of $8.93 billion, a PE ratio of -1.61, a price-to-earnings-growth ratio of 3.95 and a beta of 1.19.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. Paramount Global’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Paramount Global will post 1.77 EPS for the current year.

Institutional Investors Weigh In On Paramount Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in shares of Paramount Global by 29.2% during the 4th quarter. American Century Companies Inc. now owns 174,995 shares of the company’s stock valued at $1,830,000 after acquiring an additional 39,572 shares during the period. NEOS Investment Management LLC lifted its position in Paramount Global by 30.3% during the fourth quarter. NEOS Investment Management LLC now owns 26,730 shares of the company’s stock valued at $280,000 after purchasing an additional 6,217 shares in the last quarter. Norges Bank bought a new position in shares of Paramount Global during the 4th quarter valued at approximately $45,202,000. Arrowstreet Capital Limited Partnership bought a new stake in Paramount Global in the fourth quarter worth $10,083,000. Finally, Wellington Management Group LLP boosted its position in Paramount Global by 83.0% in the 4th quarter. Wellington Management Group LLP now owns 187,453 shares of the company’s stock worth $1,961,000 after purchasing an additional 85,047 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.