Paramount Global's (PARA) Neutral Rating Reiterated at Citigroup

Citigroup reissued their neutral rating on shares of Paramount Global (NASDAQ:PARA - Free Report) in a report published on Thursday, MarketBeat Ratings reports. Citigroup currently has a $12.00 price objective on the stock, down from their previous price objective of $13.00.

Several other equities research analysts have also recently commented on PARA. UBS Group cut 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $11.54.

Paramount Global Price Performance

Shares of NASDAQ PARA remained flat at $12.18 during midday trading on Thursday. 9,096,232 shares of the stock were exchanged, compared to its average volume of 10,105,295. The business's 50 day moving average is $11.50 and its 200-day moving average is $11.17. The stock has a market capitalization of $8.17 billion, a P/E ratio of -1.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Paramount Global has a 52 week low of $9.54 and a 52 week high of $13.05. 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 (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share 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 analysts' expectations of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Equities research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Global

Institutional investors and hedge funds have recently modified their holdings of the company. Bell Investment Advisors Inc raised its holdings in shares of Paramount Global by 100.3% in the 1st quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company's stock valued at $27,000 after purchasing an additional 1,123 shares during the period. Allworth Financial LP grew its stake in Paramount Global by 140.1% in the 4th 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 last quarter. Mattson Financial Services LLC acquired a new position in Paramount Global in the 4th quarter valued at about $28,000. Ossiam grew its stake in 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 last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Paramount Global in the 4th quarter valued at about $31,000. 73.00% of the stock is owned by institutional investors.

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.