Paramount Global (NASDAQ:PARA) Stock Rating Upgraded by StockNews.com

Paramount Global (NASDAQ:PARA) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other research analysts have also recently weighed in on PARA. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Tuesday, April 30th. Wells Fargo & Company reduced their target price on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and lowered their price target for the company from $17.00 to $11.00 in a research note on Thursday, January 11th. Finally, Argus cut Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.58.

Paramount Global Price Performance

NASDAQ PARA opened at $13.08 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of -87.20, a PEG ratio of 0.39 and a beta of 1.74. The business has a 50 day simple moving average of $11.71 and a 200 day simple moving average of $12.91. Paramount Global has a 52-week low of $10.12 and a 52-week high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.28. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Analysts anticipate that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Global

Several institutional investors have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC bought a new stake in shares of Paramount Global during the 3rd quarter valued at $25,000. Archer Investment Corp bought a new position in Paramount Global in the 4th quarter valued at about $30,000. Anchor Investment Management LLC acquired a new position in shares of Paramount Global in the 4th quarter valued at approximately $30,000. WFA of San Diego LLC lifted its holdings in shares of Paramount Global by 635.0% during the 3rd 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 period. Finally, Friedenthal Financial acquired a new stake in shares of Paramount Global during the 4th quarter worth approximately $39,000. 73.00% of the stock is currently owned by institutional investors.

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.