Paramount Global (NASDAQ:PARA) Receives Average Rating of "Reduce" from Analysts

Shares of Paramount Global (NASDAQ:PARA - Get Free Report) have been assigned an average rating of "Reduce" from the ten research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $11.67.

Several equities analysts have recently commented on PARA shares. UBS Group decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Benchmark reduced their target price on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Morgan Stanley reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Finally, Wall Street Zen initiated coverage on shares of Paramount Global in a report on Saturday, May 17th. They set a "hold" rating on the stock.

Institutional Investors Weigh In On Paramount Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Paramount Global during the 4th quarter worth $5,457,000. Hoertkorn Richard Charles grew its position in Paramount Global by 10.2% during the 1st quarter. Hoertkorn Richard Charles now owns 252,485 shares of the company's stock worth $3,020,000 after purchasing an additional 23,419 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paramount Global by 46.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,452 shares of the company's stock worth $1,626,000 after purchasing an additional 48,948 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Paramount Global during the 1st quarter worth $1,040,000. Finally, New Age Alpha Advisors LLC purchased a new position in Paramount Global during the 4th quarter worth $20,292,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Up 0.4%

Shares of Paramount Global stock traded up $0.05 during mid-day trading on Wednesday, hitting $12.99. The stock had a trading volume of 6,845,174 shares, compared to its average volume of 8,804,900. The firm has a 50-day moving average of $12.28 and a two-hundred day moving average of $11.56. Paramount Global has a 12-month low of $9.95 and a 12-month high of $13.29. 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 firm has a market cap of $8.76 billion, a P/E ratio of -1.58, a price-to-earnings-growth ratio of 3.92 and a beta of 1.19.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the business posted $0.62 EPS. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.54%. Paramount Global's dividend payout ratio is currently -2.43%.

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.