Paramount Global (NASDAQ:PARA) Receives Consensus Recommendation of "Reduce" from Analysts

Shares of Paramount Global (NASDAQ:PARA - Get Free Report) have received an average rating of "Reduce" from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $11.50.

A number of research analysts have recently commented on PARA shares. JPMorgan Chase & Co. lowered their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Morgan Stanley reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research note on Wednesday, April 2nd. Benchmark lowered their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group dropped their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th.

Paramount Global Trading Up 0.5%

PARA stock traded up $0.06 during mid-day trading on Tuesday, reaching $12.09. 6,117,525 shares of the stock traded hands, compared to its average volume of 10,174,806. Paramount Global has a 52-week low of $9.54 and a 52-week high of $13.05. The stock's fifty day moving average is $11.48 and its 200-day moving average is $11.16. The company has a market cap of $8.11 billion, a P/E ratio of -1.47, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $7.19 billion during 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 firm's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. As a group, sell-side analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Paramount Global

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Paramount Global by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after buying an additional 348,298 shares during the period. Wilsey Asset Management Inc. boosted its stake in Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after acquiring an additional 265,408 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock worth $47,973,000 after acquiring an additional 908,515 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Paramount Global during the 4th quarter valued at $5,457,000. Finally, Amundi raised its position in shares of Paramount Global by 10.1% during the 4th quarter. Amundi now owns 1,655,784 shares of the company's stock valued at $17,618,000 after acquiring an additional 152,026 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

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.