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

Paramount Global (NASDAQ:PARA) has been given a consensus rating of “Reduce” by the twenty-one analysts that are covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.83.

A number of analysts have commented on PARA shares. Seaport Res Ptn lowered shares of Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Tuesday, June 4th. Argus downgraded shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. The Goldman Sachs Group began coverage on Paramount Global in a research report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 target price for the company. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th.

Institutional Trading of Paramount Global

Several large investors have recently modified their holdings of the company. Archer Investment Corp bought a new stake in Paramount Global during the fourth quarter valued at about $30,000. Atlas Capital Advisors LLC bought a new stake in Paramount Global during the 2nd quarter valued at approximately $35,000. Friedenthal Financial acquired a new stake in Paramount Global in the 4th quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in Paramount Global in the 4th quarter worth approximately $44,000. Finally, SageView Advisory Group LLC bought a new position in Paramount Global in the 1st quarter worth approximately $56,000. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Down 1.0 %

Shares of Paramount Global stock opened at $11.00 on Wednesday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The firm has a market capitalization of $7.33 billion, a PE ratio of -73.33, a price-to-earnings-growth ratio of 0.80 and a beta of 1.78. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $11.21 and its 200-day moving average is $11.85.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 1.82%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

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.