Morgan Stanley Issues Pessimistic Forecast for Paramount Global (NASDAQ:PARA) Stock Price

Paramount Global (NASDAQ:PARA - Get Free Report) had its target price lowered by research analysts at Morgan Stanley from $11.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Morgan Stanley's price objective points to a potential downside of 11.15% from the stock's current price.

Several other equities analysts have also recently weighed in on the stock. StockNews.com assumed coverage on shares of Paramount Global in a research report on Thursday, May 1st. They set a "hold" rating on the stock. UBS Group lowered 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 reaffirmed a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut 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. Finally, Benchmark lowered their target price on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $11.58.

Paramount Global Trading Up 0.0 %

Shares of NASDAQ PARA traded up $0.01 during mid-day trading on Tuesday, hitting $11.26. 1,239,296 shares of the company traded hands, compared to its average volume of 10,522,215. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.79. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -1.37, a PEG ratio of 1.68 and a beta of 1.25. The business has a 50 day moving average of $11.41 and a two-hundred day moving average of $11.04.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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 firm had revenue of $7.98 billion for the quarter, compared to analysts' expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, sell-side analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Paramount Global

A number of institutional investors and hedge funds have recently modified their holdings of PARA. Vanguard Group Inc. lifted its position 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 last quarter. Lingotto Investment Management LLP grew its holdings in Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after buying an additional 1,593,579 shares during the last quarter. Invesco Ltd. increased its position in Paramount Global by 5.7% in the 4th 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 during the period. Geode Capital Management LLC lifted its holdings in shares of Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock worth $162,731,000 after buying an additional 724,565 shares during the last quarter. Finally, Ariel Investments LLC boosted its position in shares of Paramount Global by 3.2% in the fourth quarter. Ariel Investments LLC now owns 14,663,907 shares of the company's stock valued at $153,384,000 after acquiring an additional 460,539 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.

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