Paramount Global (NASDAQ:PARA) Receives $11.70 Average Price Target from Brokerages

Key Points

• Paramount Global has received an average rating of "Reduce" from twelve research firms, with seven analysts issuing a sell rating.
• The company's quarterly earnings surpassed expectations, reporting an EPS of $0.46 against an estimated $0.37, but revenue slightly missed forecasts.
• Paramount Global recently declared a $0.05 quarterly dividend, leading to an annualized yield of 1.8%, despite a significant negative payout ratio.

Paramount Global (NASDAQ:PARA - Get Free Report) has received a consensus recommendation of "Reduce" from the twelve research firms that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.70.

A number of analysts recently commented on PARA shares. Citigroup reaffirmed a "neutral" rating and set a $12.00 price target (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Morgan Stanley increased their price target on Paramount Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Seaport Res Ptn downgraded Paramount Global from a "hold" rating to a "strong sell" rating in a research report on Monday, July 28th. Guggenheim reissued a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, June 26th. Finally, Wall Street Zen initiated coverage on Paramount Global in a research report on Saturday, May 17th. They issued a "hold" rating for the company.

Institutional Investors Weigh In On Paramount Global

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Paramount Global by 1.6% during the first quarter. Vanguard Group Inc. now owns 68,119,342 shares of the company's stock valued at $814,707,000 after buying an additional 1,078,976 shares during the period. Lingotto Investment Management LLP raised its holdings in shares of Paramount Global by 11.4% during the second quarter. Lingotto Investment Management LLP now owns 51,040,940 shares of the company's stock valued at $658,428,000 after acquiring an additional 5,207,778 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Paramount Global by 5.7% during the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock valued at $215,413,000 after acquiring an additional 1,119,314 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Paramount Global by 1.9% during the second quarter. Geode Capital Management LLC now owns 16,101,513 shares of the company's stock valued at $207,463,000 after acquiring an additional 295,888 shares in the last quarter. Finally, Ariel Investments LLC grew 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 own 73.00% of the company's stock.

Paramount Global Stock Performance

Shares of Paramount Global stock remained flat at $11.04 on Friday. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -367.88, a P/E/G ratio of 3.07 and a beta of 1.17. Paramount Global has a 52 week low of $9.95 and a 52 week high of $13.59. The stock has a 50-day moving average price of $12.40 and a 200 day moving average price of $11.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.39.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. The firm had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.88 billion. Paramount Global had a positive return on equity of 4.51% and a negative net margin of 0.05%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. On average, equities analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.8%. Paramount Global's payout ratio is -666.67%.

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.