Paramount Global’s (PARA) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Paramount Global (NASDAQ:PARA) in a research note released on Tuesday morning, Benzinga reports. They currently have a $19.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Wolfe Research raised Paramount Global from an underperform rating to a peer perform rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft reduced their target price on Paramount Global from $20.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, February 28th. Moffett Nathanson raised Paramount Global from a sell rating to a neutral rating and set a $13.00 target price on the stock in a research note on Tuesday, January 9th. StockNews.com raised Paramount Global from a sell rating to a hold rating in a research note on Wednesday, April 10th. Finally, Raymond James reaffirmed a market perform rating on shares of Paramount Global in a research note on Tuesday, March 26th. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $13.58.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $11.39 on Tuesday. The business’s 50 day simple moving average is $11.48 and its 200-day simple moving average is $12.88. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of -11.17, a price-to-earnings-growth ratio of 0.42 and a beta of 1.77. 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 has a 12 month low of $10.12 and a 12 month high of $24.00.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts forecast that Paramount Global will post 1.19 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. Paramount Global’s payout ratio is -19.61%.

Hedge Funds Weigh In On Paramount Global

Large investors have recently modified their holdings of the stock. VisionPoint Advisory Group LLC bought a new position in shares of Paramount Global during the third quarter worth about $25,000. Archer Investment Corp bought a new position in shares of Paramount Global during the fourth quarter worth about $30,000. Anchor Investment Management LLC bought a new position in shares of Paramount Global during the fourth quarter worth about $30,000. WFA of San Diego LLC lifted its holdings in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Paramount Global in the fourth quarter worth about $39,000. 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.