StockNews.com Initiates Coverage on Paramount Global (NASDAQ:PARA)

Equities researchers at StockNews.com began coverage on shares of Paramount Global (NASDAQ:PARA - Get Free Report) in a note issued to investors on Thursday. The firm set a "hold" rating on the stock.

Several other analysts also recently weighed in on the stock. UBS Group lowered their target price 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 reissued a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research report on Wednesday, April 2nd. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Paramount Global currently has an average rating of "Hold" and a consensus price target of $11.92.

Paramount Global Trading Down 0.1 %

NASDAQ PARA opened at $11.74 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $7.83 billion, a PE ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.31. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The firm's fifty day moving average is $11.41 and its two-hundred day moving average is $11.01.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Mattson Financial Services LLC acquired a new position in shares of Paramount Global during the fourth quarter worth about $28,000. Ossiam lifted its stake in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global during the fourth quarter worth about $31,000. Finally, Rakuten Securities Inc. lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

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.

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