Paramount Global (NASDAQ:PARA) Receives Consensus Rating of “Hold” from Analysts

Paramount Global (NASDAQ:PARAGet Rating) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $35.17.

A number of analysts have weighed in on PARA shares. StockNews.com began coverage on shares of Paramount Global in a research report on Thursday, March 31st. They set a “hold” rating for the company. UBS Group reduced their price objective on shares of Paramount Global from $33.00 to $29.00 in a research report on Friday, March 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Paramount Global from $45.00 to $43.00 in a research report on Wednesday, May 4th. Rosenblatt Securities began coverage on shares of Paramount Global in a research report on Tuesday, April 19th. They set a “sell” rating and a $29.00 price objective for the company. Finally, Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and reduced their price objective for the stock from $49.00 to $24.00 in a research report on Thursday, June 2nd.

NASDAQ:PARA opened at $24.25 on Friday. The firm has a market cap of $15.74 billion, a P/E ratio of 3.97, a PEG ratio of 1.29 and a beta of 1.56. The firm’s 50 day moving average price is $31.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.58 and a quick ratio of 1.48. Paramount Global has a fifty-two week low of $23.69 and a fifty-two week high of $47.46.

Paramount Global (NASDAQ:PARAGet Rating) last released its earnings results on Tuesday, May 3rd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.39 billion. Paramount Global had a net margin of 14.26% and a return on equity of 7.90%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. As a group, research analysts expect that Paramount Global will post 2.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.96%. The ex-dividend date is Tuesday, June 14th. Paramount Global’s payout ratio is currently 15.71%.

About Paramount Global (Get Rating)

Paramount Global operates as a media and entertainment company worldwide. The company distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24-hour cable channel that provides sports and related content, as well as streaming and cable subscription services.

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