Brokerages Set Paramount Global (NASDAQ:PARA) Price Target at $11.92

Paramount Global (NASDAQ:PARA - Get Free Report) has been assigned an average recommendation of "Reduce" from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.58.

PARA has been the subject of a number of research analyst reports. Benchmark cut their price target on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday. 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 research report on Tuesday. Guggenheim restated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com started coverage on Paramount Global in a research report on Thursday, May 1st. They issued a "hold" rating on the stock. Finally, Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently modified their holdings of the business. Allworth Financial LP raised its holdings in 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 buying an additional 1,395 shares during the period. Mattson Financial Services LLC bought a new stake in Paramount Global in the 4th quarter valued at $28,000. Ossiam lifted its holdings in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after purchasing an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global in the 4th quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. boosted its holdings in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

Shares of PARA stock traded up $0.08 during trading on Friday, reaching $11.58. The company had a trading volume of 6,746,950 shares, compared to its average volume of 10,455,448. Paramount Global has a one year low of $9.54 and a one year high of $13.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $7.77 billion, a PE ratio of -1.41, a PEG ratio of 1.68 and a beta of 1.25. The firm's 50 day simple moving average is $11.42 and its two-hundred day simple moving average is $11.04.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Sell-side analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.73%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is presently -2.15%.

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.