Paramount Global (NASDAQ:PARA) Given Average Recommendation of “Reduce” by Brokerages

Paramount Global (NASDAQ:PARA) has received a consensus recommendation of “Reduce” from the twenty brokerages that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.79.

A number of research analysts have commented on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Paramount Global in a research report on Tuesday, April 9th. Wolfe Research raised shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Benchmark cut their target price on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Raymond James reissued a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th.

Institutional Trading of Paramount Global

A number of institutional investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC purchased a new position in Paramount Global during the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new position in Paramount Global during the 4th quarter worth approximately $30,000. Archer Investment Corp purchased a new position in Paramount Global during the 4th quarter worth approximately $30,000. Cornerstone Planning Group LLC purchased a new position in Paramount Global during the 2nd quarter worth approximately $30,000. Finally, ICA Group Wealth Management LLC purchased a new position in Paramount Global during the 4th quarter worth approximately $32,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Up 13.4 %

PARA stock opened at $12.44 on Monday. The company has a market capitalization of $8.12 billion, a PE ratio of -12.20, a P/E/G ratio of 0.44 and a beta of 1.77. Paramount Global has a 12 month low of $10.12 and a 12 month high of $24.00. The firm’s 50-day moving average is $11.52 and its 200 day moving average is $12.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. On average, research analysts anticipate that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Paramount Global Company Profile

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.