Paramount Global (NASDAQ:PARA – Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $15.00 to $14.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 18.14% from the company’s previous close.
Several other equities research analysts have also weighed in on PARA. Needham & Company LLC lowered shares of Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Tuesday. Morgan Stanley reduced their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft dropped their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a report on Tuesday, April 9th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.58.
Check Out Our Latest Report on PARA
Paramount Global Stock Performance
Paramount Global (NASDAQ:PARA – Get Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The firm 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 2.05% and a positive return on equity of 1.78%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities analysts expect that Paramount Global will post 1.19 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PARA. VisionPoint Advisory Group LLC bought a new stake in shares of Paramount Global during the 3rd quarter worth $25,000. Anchor Investment Management LLC bought a new stake in Paramount Global during the 4th quarter valued at approximately $30,000. Archer Investment Corp acquired a new stake in Paramount Global in the 4th quarter valued at approximately $30,000. WFA of San Diego LLC increased its position in Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after buying an additional 2,286 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Paramount Global by 55.1% during the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after buying an additional 1,056 shares during the last quarter. Institutional investors and hedge funds 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 ChilevisiĆ³n; 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.
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