Paramount Global (NASDAQ:PARA) PT Lowered to $11.00

Paramount Global (NASDAQ:PARA) had its price target trimmed by JPMorgan Chase & Co. from $12.00 to $11.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

Several other research firms have also recently weighed in on PARA. Rosenblatt Securities restated a neutral rating and set a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Seaport Res Ptn cut shares of Paramount Global from a buy rating to a neutral rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised shares of Paramount Global from an underweight rating to an equal weight rating and raised their price target for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Argus downgraded Paramount Global from a hold rating to a sell rating in a report on Friday, May 3rd. Finally, StockNews.com downgraded Paramount Global from a hold rating to a sell rating in a report on Monday, August 12th. Eleven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $12.47.

Paramount Global Trading Up 0.4 %

NASDAQ PARA opened at $11.00 on Thursday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The business’s fifty day moving average is $10.90 and its 200 day moving average is $11.62. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The company has a market cap of $7.33 billion, a price-to-earnings ratio of -73.33, a price-to-earnings-growth ratio of 0.59 and a beta of 1.78.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. Paramount Global’s dividend payout ratio is currently -133.33%.

Institutional Trading of Paramount Global

Several large investors have recently made changes to their positions in PARA. Mirae Asset Global Investments Co. Ltd. grew its stake in Paramount Global by 54.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 207,305 shares of the company’s stock valued at $3,066,000 after acquiring an additional 73,112 shares during the period. Cerity Partners LLC bought a new stake in Paramount Global during the 4th quarter valued at $1,402,000. Louisiana State Employees Retirement System acquired a new position in Paramount Global during the fourth quarter worth $432,000. Archer Investment Corp bought a new position in shares of Paramount Global in the fourth quarter valued at $30,000. Finally, Institute for Wealth Management LLC. grew its holdings in shares of Paramount Global by 42.7% during the fourth quarter. Institute for Wealth Management LLC. now owns 44,930 shares of the company’s stock valued at $665,000 after buying an additional 13,438 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.