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

Posted by on Aug 6th, 2022

Paramount Global (NASDAQ:PARA – Get Rating) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.54.

A number of brokerages have issued reports on PARA. Morgan Stanley cut their price target on Paramount Global from $22.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday. Citigroup dropped their price objective on shares of Paramount Global from $44.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, July 7th. JPMorgan Chase & Co. downgraded shares of Paramount Global from a “neutral” rating to an “underweight” rating and set a $25.00 price objective for the company. in a report on Friday. The Goldman Sachs Group downgraded shares of Paramount Global from a “buy” rating to a “sell” rating and dropped their price objective for the company from $37.00 to $20.00 in a report on Tuesday, July 26th. Finally, Barclays dropped their price objective on shares of Paramount Global from $24.00 to $20.00 and set an “underweight” rating for the company in a report on Thursday, July 14th.

Paramount Global Price Performance

NASDAQ:PARA opened at $24.26 on Friday. Paramount Global has a one year low of $23.15 and a one year high of $42.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.58 and a quick ratio of 1.48. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 3.97, a price-to-earnings-growth ratio of 1.18 and a beta of 1.55. The business has a fifty day moving average of $26.21.

Paramount Global (NASDAQ:PARA – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Paramount Global had a return on equity of 7.90% and a net margin of 14.26%. The business had revenue of $7.78 billion during the quarter, compared to analyst estimates of $7.55 billion. During the same quarter in the prior year, the business posted $0.97 EPS. Paramount Global’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities research analysts expect that Paramount Global will post 2.61 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, September 14th. Paramount Global’s payout ratio is 15.71%.

About Paramount Global

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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.

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