Paramount Global (NASDAQ:PARA) Downgraded by Barrington Research to “Market Perform”

Barrington Research cut shares of Paramount Global (NASDAQ:PARA – Get Rating) from an outperform rating to a market perform rating in a research report released on Friday, MarketBeat.com reports.

Several other equities research analysts also recently weighed in on the stock. Citigroup reduced their target price on shares of Paramount Global from $44.00 to $37.00 and set a buy rating on the stock in a research note on Thursday, July 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Paramount Global from $45.00 to $43.00 in a research note on Wednesday, May 4th. Rosenblatt Securities reduced their target price on shares of Paramount Global from $25.00 to $19.00 and set a sell rating on the stock in a research note on Monday, July 11th. Morgan Stanley downgraded shares of Paramount Global from an equal weight rating to an underweight rating and reduced their price target for the stock from $32.00 to $22.00 in a research note on Monday, July 18th. Finally, Evercore ISI reduced their price target on shares of Paramount Global from $36.00 to $28.00 in a research note on Wednesday, July 27th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $26.85.

Paramount Global Stock Up 2.1 %

PARA stock opened at $24.15 on Friday. Paramount Global has a 52 week low of $23.15 and a 52 week high of $42.17. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 0.73. The company’s fifty day simple moving average is $26.83. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 3.95, a P/E/G ratio of 1.11 and a beta of 1.56.

Paramount Global (NASDAQ:PARA – Get Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.13. Paramount Global had a net margin of 14.26% and a return on equity of 7.90%. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Paramount Global will post 2.62 EPS for the current year.

Paramount Global Company Profile

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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.

Further Reading

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