Paramount Global (NASDAQ:PARA) Rating Lowered to “Strong Sell” at Seaport Res Ptn

Seaport Res Ptn cut shares of Paramount Global (NASDAQ:PARA) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Tuesday, July 22nd. Benchmark decreased their target price on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Morgan Stanley decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, May 6th. Finally, Guggenheim reissued a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, June 26th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.60.

Paramount Global Price Performance

Shares of PARA opened at $13.04 on Monday. The stock has a market capitalization of $8.79 billion, a P/E ratio of -1.58, a P/E/G ratio of 3.95 and a beta of 1.19. Paramount Global has a twelve month low of $9.95 and a twelve month high of $13.59. The company has a 50 day moving average of $12.43 and a 200-day moving average of $11.68. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. As a group, equities research analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, June 16th. Paramount Global’s payout ratio is -2.43%.

Institutional Trading of Paramount Global

Several hedge funds and other institutional investors have recently modified their holdings of PARA. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Paramount Global by 8.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,259 shares of the company’s stock valued at $147,000 after acquiring an additional 907 shares during the period. Signaturefd LLC boosted its position in shares of Paramount Global by 10.1% in the second quarter. Signaturefd LLC now owns 10,597 shares of the company’s stock valued at $137,000 after acquiring an additional 971 shares during the period. Ossiam boosted its position 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 period. Bell Investment Advisors Inc boosted its position in shares of Paramount Global by 100.3% in the first quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company’s stock valued at $27,000 after acquiring an additional 1,123 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in shares of Paramount Global by 2.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company’s stock valued at $621,000 after acquiring an additional 1,143 shares during the period. 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.