Paramount Global (NASDAQ:PARA) Given Underperform Rating at Macquarie

Paramount Global (NASDAQ:PARA)‘s stock had its “underperform” rating reiterated by research analysts at Macquarie in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $10.00 target price on the stock. Macquarie’s price target suggests a potential downside of 12.66% from the stock’s current price.

A number of other equities research analysts have also issued reports on PARA. Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday. Finally, Guggenheim decreased their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Paramount Global has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Stock Down 0.9 %

Paramount Global stock opened at $11.45 on Monday. The company has a 50 day moving average of $10.57 and a 200-day moving average of $11.09. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The stock has a market capitalization of $7.63 billion, a PE ratio of -1.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Paramount Global will post 1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PARA. Allspring Global Investments Holdings LLC grew its position in shares of Paramount Global by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after purchasing an additional 934 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of Paramount Global by 5.3% during the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after buying an additional 1,002 shares in the last quarter. Carson Advisory Inc. boosted its position in shares of Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after acquiring an additional 1,004 shares during the period. Prestige Wealth Management Group LLC grew its stake in shares of Paramount Global by 13.2% in the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after acquiring an additional 1,011 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Company Profile

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.