Paramount Global (NASDAQ:PARA) Stock Rating Reaffirmed by Raymond James

Paramount Global (NASDAQ:PARA)‘s stock had its “market perform” rating reaffirmed by Raymond James in a research note issued on Tuesday, Benzinga reports.

A number of other research firms have also issued reports on PARA. Benchmark reduced their price objective on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Paramount Global in a research report on Thursday, February 29th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Tuesday. Ten analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.05.

Paramount Global Trading Up 2.9 %

PARA opened at $11.70 on Tuesday. The firm’s 50 day moving average is $12.28 and its 200-day moving average is $13.05. The firm has a market capitalization of $7.63 billion, a P/E ratio of -11.47, a P/E/G ratio of 0.41 and a beta of 1.76. Paramount Global has a 52-week low of $10.16 and a 52-week high of $24.00. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The firm 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%. Paramount Global’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. Analysts expect that Paramount Global will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in shares of Paramount Global in the 4th quarter valued at $1,512,000. Cove Private Wealth LLC bought a new stake in shares of Paramount Global during the fourth quarter valued at approximately $808,000. Vanguard Group Inc. increased its stake in shares of Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock valued at $862,058,000 after buying an additional 626,256 shares during the period. Royal London Asset Management Ltd. increased its position in Paramount Global by 10.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 238,973 shares of the company’s stock worth $3,534,000 after purchasing an additional 21,784 shares during the period. Finally, Readystate Asset Management LP bought a new stake in shares of Paramount Global during the fourth quarter worth approximately $3,579,000. Institutional investors own 73.00% of the company’s stock.

About Paramount Global

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.