Paramount Global (NASDAQ:PARA) Lowered to “Neutral” at Seaport Res Ptn

Seaport Res Ptn cut shares of Paramount Global (NASDAQ:PARA) from a buy rating to a neutral rating in a report issued on Thursday, Zacks.com reports. Seaport Res Ptn also issued estimates for Paramount Global’s Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.25 EPS and FY2024 earnings at $1.25 EPS.

Several other analysts have also issued reports on PARA. Moffett Nathanson upgraded shares of Paramount Global from a sell rating to a neutral rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Argus lowered Paramount Global from a hold rating to a sell rating in a research note on Friday. StockNews.com lowered Paramount Global from a hold rating to a sell rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on Paramount Global from $20.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Finally, Redburn Atlantic downgraded shares of Paramount Global from a neutral rating to a sell rating and decreased their price target for the stock from $17.00 to $11.00 in a research note on Thursday, January 11th. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned 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 $13.58.

Paramount Global Trading Down 7.0 %

Shares of NASDAQ:PARA opened at $12.89 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $8.41 billion, a PE ratio of -85.93, a P/E/G ratio of 0.42 and a beta of 1.74. Paramount Global has a 1 year low of $10.12 and a 1 year high of $19.04. The firm has a fifty day moving average price of $11.55 and a 200 day moving average price of $12.89.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -133.32%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global during the third quarter valued at $25,000. Anchor Investment Management LLC bought a new position in shares of Paramount Global in the 4th quarter valued at about $30,000. Archer Investment Corp acquired a new position in Paramount Global in the fourth quarter valued at approximately $30,000. WFA of San Diego LLC boosted its stake in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Paramount Global by 55.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after acquiring an additional 1,056 shares during the period. 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.