Paramount Global (NASDAQ:PARA) Receives $13.25 Average Price Target from Analysts

Shares of Paramount Global (NASDAQ:PARAGet Free Report) have received a consensus rating of “Reduce” from the twenty-one brokerages that are presently covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.83.

PARA has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded Paramount Global from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $14.00 to $9.00 in a research report on Wednesday, June 12th. Needham & Company LLC downgraded Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Argus cut Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Tuesday. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $14.00 target price on shares of Paramount Global in a report on Tuesday, June 4th.

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Paramount Global Stock Performance

Paramount Global stock opened at $11.70 on Friday. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of -77.99, a PEG ratio of 0.37 and a beta of 1.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The stock has a fifty day moving average of $11.60 and a two-hundred day moving average of $12.19.

Paramount Global (NASDAQ:PARAGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. On average, analysts anticipate that Paramount Global will post 1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. VisionPoint Advisory Group LLC bought a new stake in Paramount Global in the third quarter valued at about $25,000. Anchor Investment Management LLC bought a new stake in Paramount Global in the fourth quarter valued at about $30,000. Archer Investment Corp bought a new stake in Paramount Global in the fourth quarter valued at about $30,000. Friedenthal Financial bought a new stake in Paramount Global in the fourth quarter valued at about $39,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Paramount Global in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Company Profile

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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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Analyst Recommendations for Paramount Global (NASDAQ:PARA)

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