Paramount Global (NASDAQ:PARA) Raised to Hold at StockNews.com

Paramount Global (NASDAQ:PARA) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other research analysts have also issued reports on PARA. Morgan Stanley decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 27th. 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. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Paramount Global in a report on Tuesday, April 9th. Wells Fargo & Company dropped their target price on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Finally, Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Nine analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.58.

Paramount Global Stock Down 3.0 %

PARA opened at $12.89 on Wednesday. Paramount Global has a 12 month low of $10.12 and a 12 month high of $17.50. The stock’s 50 day moving average price is $11.63 and its 200 day moving average price is $12.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The stock has a market cap of $8.59 billion, a P/E ratio of -85.93, a P/E/G ratio of 0.39 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Paramount Global will post 1.32 earnings per share for the current year.

Institutional Trading of Paramount Global

A number of institutional investors and hedge funds have recently made changes to their positions in PARA. Tokio Marine Asset Management Co. Ltd. raised 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 acquiring an additional 769 shares in the last quarter. Highlander Capital Management LLC boosted its holdings in shares of Paramount Global by 13.4% during the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after buying an additional 850 shares during the period. Kestra Private Wealth Services LLC grew its stake in Paramount Global by 3.1% in 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 during the last quarter. Arizona State Retirement System raised its holdings in 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 acquiring an additional 887 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in Paramount Global by 5.2% during the 4th quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after acquiring an additional 889 shares during the last quarter. Institutional investors and hedge funds 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.