StockNews.com began coverage on shares of Paramount Global (NASDAQ:PARA - Free Report) in a report published on Friday morning. The brokerage issued a hold rating on the stock.
Other equities analysts have also issued research reports about the company. Morgan Stanley lowered their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Benchmark lowered their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd. Finally, UBS Group lowered their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Paramount Global currently has an average rating of "Hold" and an average target price of $11.58.
Check Out Our Latest Stock Analysis on Paramount Global
Paramount Global Price Performance
Shares of NASDAQ:PARA traded up $0.01 during trading on Friday, reaching $11.95. The stock had a trading volume of 8,104,862 shares, compared to its average volume of 10,429,185. 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 business has a fifty day moving average price of $11.43 and a 200-day moving average price of $11.07. The stock has a market cap of $8.01 billion, a PE ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.25. Paramount Global has a 1-year low of $9.54 and a 1-year high of $13.40.
Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business's revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. On average, equities analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.
Paramount Global Dividend Announcement
The company also recently announced 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 1.67%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.43%.
Hedge Funds Weigh In On Paramount Global
Several hedge funds have recently bought and sold shares of PARA. Franklin Resources Inc. lifted its stake in Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after acquiring an additional 174,514 shares in the last quarter. GAMMA Investing LLC lifted its stake in Paramount Global by 74.0% during the 4th quarter. GAMMA Investing LLC now owns 10,842 shares of the company's stock worth $113,000 after acquiring an additional 4,611 shares in the last quarter. Graypoint LLC lifted its stake in Paramount Global by 119.9% during the 4th quarter. Graypoint LLC now owns 47,989 shares of the company's stock worth $502,000 after acquiring an additional 26,168 shares in the last quarter. Czech National Bank lifted its stake in Paramount Global by 6.5% during the 4th quarter. Czech National Bank now owns 129,023 shares of the company's stock worth $1,350,000 after acquiring an additional 7,874 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock worth $75,000 after acquiring an additional 3,654 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.
About Paramount Global
(
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.
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