Paramount Global (NASDAQ:PARA) Receives Buy Rating from Guggenheim

Paramount Global (NASDAQ:PARA - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $14.00 price target on the stock. Guggenheim's target price indicates a potential upside of 14.05% from the stock's current price.

A number of other research firms have also recently weighed in on PARA. Citigroup reaffirmed a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. UBS Group dropped their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their target price on 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, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Paramount Global has a consensus rating of "Hold" and an average target price of $11.50.

Paramount Global Stock Up 0.5%

NASDAQ PARA traded up $0.06 during trading on Thursday, hitting $12.28. The company's stock had a trading volume of 412,429 shares, compared to its average volume of 9,310,602. Paramount Global has a fifty-two week low of $9.87 and a fifty-two week high of $12.54. The company has a market cap of $8.28 billion, a PE ratio of -1.49, a P/E/G ratio of 3.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.29 and a quick ratio of 1.18. The business's 50 day simple moving average is $11.81 and its 200-day simple moving average is $11.32.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its 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. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period last year, the company earned $0.62 earnings per share. Paramount Global's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors and hedge funds have recently modified their holdings of PARA. Allworth Financial LP boosted its position in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in Paramount Global by 100.3% during the first quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company's stock worth $27,000 after purchasing an additional 1,123 shares during the last quarter. Mattson Financial Services LLC acquired a new stake in shares of Paramount Global during the fourth quarter worth about $28,000. Ossiam boosted its position in shares of 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 purchasing an additional 1,022 shares during the period. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Paramount Global during the 4th quarter worth approximately $31,000. 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.

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