Free Trial

Paramount Global (NASDAQ:PARA) Given Average Recommendation of "Reduce" by Analysts

Paramount Global logo with Consumer Discretionary background

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.
  • Want stock alerts on Paramount Global? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

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

Several brokerages have issued reports on PARA. Guggenheim reaffirmed a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, June 26th. JPMorgan Chase & Co. cut their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Citigroup reaffirmed a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. UBS Group lowered their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Seaport Res Ptn downgraded Paramount Global from a "hold" rating to a "strong sell" rating in a research report on Monday, July 28th.

View Our Latest Research Report on Paramount Global

Institutional Investors Weigh In On Paramount Global

A number of institutional investors have recently modified their holdings of the stock. Elo Mutual Pension Insurance Co grew its stake in shares of Paramount Global by 79.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 96,621 shares of the company's stock worth $1,246,000 after acquiring an additional 42,698 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Paramount Global in the second quarter worth $607,000. Summit Global Investments purchased a new stake in shares of Paramount Global in the second quarter worth $533,000. Jefferies Financial Group Inc. purchased a new stake in shares of Paramount Global in the second quarter worth $184,000. Finally, Prudential Financial Inc. grew its stake in shares of Paramount Global by 8.2% in the second quarter. Prudential Financial Inc. now owns 338,859 shares of the company's stock worth $4,371,000 after acquiring an additional 25,588 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ PARA remained flat at $11.04 during midday trading on Friday. Paramount Global has a 1 year low of $9.95 and a 1 year high of $13.59. The company has a quick ratio of 1.21, a current ratio of 1.39 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.44 billion, a PE ratio of -367.88, a PEG ratio of 3.07 and a beta of 1.17. The company has a 50-day moving average price of $12.44 and a two-hundred day moving average price of $11.78.

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

Paramount Global Dividend Announcement

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

Paramount Global Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Paramount Global (NASDAQ:PARA)

Should You Invest $1,000 in Paramount Global Right Now?

Before you consider Paramount Global, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paramount Global wasn't on the list.

While Paramount Global currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Growth Stock Winners to Watch And 3 to Avoid
3 Growth Stocks That Could Pop Before Summer Ends
3 Buy-the-Dip Stocks Poised to Rebound Soon

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines