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

Shares of Paramount Global (NASDAQ:PARAGet Free Report) have earned a consensus rating of “Reduce” from the twenty brokerages that are presently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.05.

PARA has been the subject of several recent analyst reports. Rosenblatt Securities raised Paramount Global from a “sell” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $13.00 in a research report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Paramount Global in a research report on Thursday, February 29th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $15.00 to $18.00 in a report on Wednesday, December 20th. Loop Capital lowered Paramount Global from a “hold” rating to a “sell” rating and set a $12.00 target price on the stock. in a report on Friday, December 8th. Finally, Raymond James restated a “market perform” rating on shares of Paramount Global in a report on Tuesday.

Check Out Our Latest Stock Analysis on PARA

Paramount Global Stock Performance

PARA opened at $11.70 on Thursday. The firm has a market cap of $7.63 billion, a PE ratio of -11.47, a P/E/G ratio of 0.41 and a beta of 1.76. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $12.28 and a 200-day simple moving average of $13.05. Paramount Global has a fifty-two week low of $10.16 and a fifty-two week high of $24.00.

Paramount Global (NASDAQ:PARAGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09. The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. As a group, equities analysts predict that Paramount Global will post 1.21 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Hedge Funds Weigh In On Paramount Global

Hedge funds have recently modified their holdings of the business. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global during the third quarter worth $25,000. Anchor Investment Management LLC acquired a new position in Paramount Global in the fourth quarter valued at $30,000. Archer Investment Corp acquired a new position in Paramount Global in the fourth quarter valued at $30,000. Cornerstone Planning Group LLC acquired a new position in Paramount Global in the second quarter valued at $30,000. Finally, ICA Group Wealth Management LLC acquired a new position in Paramount Global in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Company Profile

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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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Analyst Recommendations for Paramount Global (NASDAQ:PARA)

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