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

Paramount Global (NASDAQ:PARA) has been assigned a consensus rating of “Reduce” from the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. Ten 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. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.47.

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Evercore ISI decreased their price objective on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a report on Tuesday, June 4th.

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its holdings in Paramount Global by 19.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 57,368 shares of the company’s stock worth $848,000 after purchasing an additional 9,512 shares during the period. ING Groep NV increased its position in Paramount Global by 382.5% during the 4th quarter. ING Groep NV now owns 70,150 shares of the company’s stock valued at $1,038,000 after buying an additional 55,612 shares in the last quarter. Norges Bank purchased a new position in Paramount Global during the fourth quarter valued at $41,497,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Paramount Global by 83.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,880 shares of the company’s stock worth $324,000 after acquiring an additional 9,939 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in shares of Paramount Global by 10.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,400 shares of the company’s stock worth $169,000 after acquiring an additional 1,081 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

PARA stock opened at $10.38 on Thursday. The firm has a market cap of $6.92 billion, a P/E ratio of -69.20, a P/E/G ratio of 0.57 and a beta of 1.75. The firm’s fifty day moving average is $10.80 and its 200 day moving average is $11.33. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Research analysts predict that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s dividend payout ratio is currently -133.33%.

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.