Paramount Global (NASDAQ:PARA) Receives Average Recommendation of “Reduce” from Analysts

Paramount Global (NASDAQ:PARA) has been given a consensus rating of “Reduce” by the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.79.

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, February 27th. Raymond James restated a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Benchmark lowered their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Moffett Nathanson upgraded 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. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th.

Hedge Funds Weigh In On Paramount Global

A number of large investors have recently added to or reduced their stakes in the business. Mitchell & Pahl Private Wealth LLC raised its position in Paramount Global by 48.3% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 43,135 shares of the company’s stock worth $508,000 after purchasing an additional 14,039 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Paramount Global by 2.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 130,278 shares of the company’s stock valued at $1,533,000 after acquiring an additional 2,529 shares during the period. Hedges Asset Management LLC increased its position in shares of Paramount Global by 4.7% in the first quarter. Hedges Asset Management LLC now owns 35,700 shares of the company’s stock valued at $420,000 after acquiring an additional 1,600 shares during the period. Demars Financial Group LLC purchased a new position in shares of Paramount Global in the first quarter valued at about $662,000. Finally, SOL Capital Management CO increased its position in shares of Paramount Global by 74.2% in the first quarter. SOL Capital Management CO now owns 144,994 shares of the company’s stock valued at $1,707,000 after acquiring an additional 61,780 shares during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.91 on Monday. The business’s fifty day simple moving average is $11.48 and its 200 day simple moving average is $12.87. The firm has a market capitalization of $7.77 billion, a P/E ratio of -11.68, a price-to-earnings-growth ratio of 0.45 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 company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $7.64 billion for 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% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. As a group, analysts anticipate that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s payout ratio is presently -19.61%.

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.