Analysts Set Paramount Global (NASDAQ:PARA) Price Target at $12.40

Paramount Global (NASDAQ:PARA) has received an average rating of “Reduce” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.43.

A number of research firms recently commented on PARA. Macquarie restated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Finally, Guggenheim cut their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th.

Paramount Global Trading Up 1.7 %

Shares of NASDAQ:PARA opened at $10.99 on Tuesday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $7.33 billion, a P/E ratio of -1.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71. The firm has a fifty day moving average of $10.73 and a two-hundred day moving average of $10.88.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts expect that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

Institutional Trading of Paramount Global

Several institutional investors have recently modified their holdings of the company. Great Valley Advisor Group Inc. boosted its position in shares of Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after acquiring an additional 1,002 shares in the last quarter. Carson Advisory Inc. boosted its holdings in Paramount Global by 1.9% during the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after purchasing an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Paramount Global by 13.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after purchasing an additional 1,011 shares during the period. GAMMA Investing LLC grew its stake in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after purchasing an additional 1,067 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Paramount Global by 8.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after buying an additional 1,356 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.