Paramount Global (NASDAQ:PARA) Price Target Lowered to $25.00 at Deutsche Bank Aktiengesellschaft

Paramount Global (NASDAQ:PARA – Get Rating) had its price target reduced by Deutsche Bank Aktiengesellschaft from $28.00 to $25.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Benchmark reissued a buy rating and set a $31.00 price target on shares of Paramount Global in a report on Wednesday, February 15th. StockNews.com began coverage on Paramount Global in a report on Thursday, May 18th. They set a sell rating for the company. Barclays dropped their price objective on Paramount Global from $15.00 to $13.00 in a report on Friday, May 12th. Macquarie cut Paramount Global from a neutral rating to an underperform rating and set a $15.00 price objective for the company. in a report on Tuesday, January 31st. Finally, Citigroup dropped their price objective on Paramount Global from $32.00 to $22.00 in a report on Monday, May 15th. Eleven equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $21.09.

Paramount Global Stock Performance

NASDAQ:PARA opened at $14.64 on Wednesday. The stock has a market cap of $9.54 billion, a P/E ratio of -18.77, a PEG ratio of 3.88 and a beta of 1.64. The stock has a 50 day simple moving average of $19.94 and a 200 day simple moving average of $20.03. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Paramount Global has a 1-year low of $14.34 and a 1-year high of $34.50.

Paramount Global (NASDAQ:PARA – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.42 billion. Paramount Global had a positive return on equity of 3.64% and a negative net margin of 1.49%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Research analysts anticipate that Paramount Global will post 0.68 earnings per share for the current year.

Paramount Global Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.37%. Paramount Global’s dividend payout ratio is currently -123.08%.

Insider Buying and Selling

In other news, Director Shari Redstone acquired 165,000 shares of Paramount Global stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $15.06 per share, for a total transaction of $2,484,900.00. Following the transaction, the director now directly owns 577,064 shares of the company’s stock, valued at approximately $8,690,583.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paramount Global

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $1,281,000. South Dakota Investment Council bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $367,000. Asset Management One Co. Ltd. bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $4,872,000. Seven Eight Capital LP bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $858,000. Finally, Metis Global Partners LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at about $366,000. Institutional investors own 74.13% of the company’s stock.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.