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

StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA) in a report issued on Saturday morning. The firm issued a hold rating on the stock.

Several other research firms have also recently commented on PARA. Guggenheim reaffirmed a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Trading Down 1.9 %

Shares of PARA stock opened at $11.64 on Friday. The firm has a market capitalization of $7.76 billion, a P/E ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The firm’s fifty day simple moving average is $11.18 and its 200 day simple moving average is $10.85. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

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

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. Paramount Global’s dividend payout ratio is presently -2.15%.

Institutional Investors Weigh In On Paramount Global

Large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Mattson Financial Services LLC acquired a new stake in shares of Paramount Global during the fourth quarter worth approximately $28,000. Ossiam raised its stake in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after acquiring an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global in the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after acquiring an additional 2,019 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

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.