Paramount Global (NASDAQ:PARA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Paramount Global (NASDAQ:PARA) in a research report report published on Tuesday. The brokerage issued a hold rating on the stock.

Several other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research report on Wednesday, April 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley upped their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Finally, Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.92.

Paramount Global Trading Up 1.6 %

Paramount Global stock opened at $10.86 on Tuesday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The business has a 50 day moving average price of $11.36 and a two-hundred day moving average price of $10.95. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. Paramount Global’s dividend payout ratio (DPR) is currently -2.15%.

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of PARA. Charles Schwab Investment Management Inc. boosted its position in Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after buying an additional 348,298 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after acquiring an additional 174,514 shares during the period. Wilsey Asset Management Inc. boosted its holdings in Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after acquiring an additional 265,408 shares during the last quarter. Bank of New York Mellon Corp increased its position in Paramount Global by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after purchasing an additional 908,515 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Paramount Global during the 4th quarter worth about $5,457,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.