Benchmark Has Lowered Expectations for Paramount Global (NASDAQ:PARA) Stock Price

Paramount Global (NASDAQ:PARA - Get Free Report) had its price objective lowered by equities research analysts at Benchmark from $19.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price target would indicate a potential upside of 42.54% from the stock's current price.

A number of other analysts have also recently weighed in on the company. Morgan Stanley upped their price target on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. StockNews.com assumed coverage on shares of Paramount Global in a research note on Thursday, May 1st. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd. UBS Group reduced their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has an average rating of "Hold" and an average target price of $11.67.

Paramount Global Stock Performance

Shares of NASDAQ:PARA traded down $0.03 during trading on Tuesday, hitting $11.23. 405,319 shares of the stock were exchanged, compared to its average volume of 8,979,203. The company's fifty day simple moving average is $11.41 and its 200-day simple moving average is $11.04. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of -1.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a 1-year low of $9.54 and a 1-year high of $13.40.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates 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%. Sell-side analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock worth $701,242,000 after acquiring an additional 761,561 shares during the period. Lingotto Investment Management LLP lifted its position in Paramount Global by 3.7% during the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after purchasing an additional 1,593,579 shares during the period. Invesco Ltd. grew its stake in Paramount Global by 5.7% during the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock worth $215,413,000 after buying an additional 1,119,314 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Paramount Global by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock valued at $162,731,000 after buying an additional 724,565 shares in the last quarter. Finally, Ariel Investments LLC lifted its holdings in shares of Paramount Global by 3.2% during the 4th quarter. Ariel Investments LLC now owns 14,663,907 shares of the company's stock worth $153,384,000 after acquiring an additional 460,539 shares during the period. 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.

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