Paramount Global (NASDAQ:PARA) Price Target Cut to $14.00 by Analysts at Wells Fargo & Company

Paramount Global (NASDAQ:PARA) had its target price decreased by Wells Fargo & Company from $15.00 to $14.00 in a report published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Paramount Global from $20.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Wolfe Research upgraded shares of Paramount Global from an underperform rating to a peer perform rating in a research report on Thursday, April 4th. Moffett Nathanson upgraded Paramount Global from a sell rating to a neutral rating and set a $13.00 price objective on the stock in a report on Tuesday, January 9th. Needham & Company LLC cut Paramount Global from a buy rating to a hold rating in a report on Tuesday. Finally, Raymond James reaffirmed a market perform rating on shares of Paramount Global in a research note on Tuesday, March 26th. Ten analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $13.58.

Paramount Global Trading Down 7.0 %

Paramount Global stock opened at $12.89 on Tuesday. The stock has a market cap of $8.41 billion, a P/E ratio of -85.93, a PEG ratio of 0.42 and a beta of 1.74. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $19.04. The firm’s fifty day moving average price is $11.52 and its 200-day moving average price is $12.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.17 and a current ratio of 1.29.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $7.73 billion. During the same quarter last year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that Paramount Global will post 1.32 earnings per share 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 given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -133.32%.

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently bought and sold shares of PARA. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Paramount Global by 5.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after purchasing an additional 769 shares during the period. Highlander Capital Management LLC increased its stake in shares of Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after purchasing an additional 850 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in Paramount Global by 3.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock valued at $431,000 after buying an additional 879 shares in the last quarter. Arizona State Retirement System raised its position in shares of Paramount Global by 0.7% in the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after purchasing an additional 887 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in shares of Paramount Global by 5.2% in the fourth quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after buying an additional 889 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other 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.