Paramount Global (NASDAQ:PARA) Rating Reiterated by Benchmark

Paramount Global (NASDAQ:PARA)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research report issued on Tuesday, Benzinga reports. They currently have a $19.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 54.98% from the company’s previous close.

PARA has been the subject of a number of other reports. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price objective on shares of Paramount Global in a report on Tuesday, April 9th. JPMorgan Chase & Co. decreased their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. 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, February 27th. Finally, Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research note on Tuesday, January 9th. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.58.

Paramount Global Price Performance

PARA stock opened at $12.26 on Tuesday. Paramount Global has a 52-week low of $10.12 and a 52-week high of $23.45. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of -81.53, a PEG ratio of 0.44 and a beta of 1.77. The firm has a 50 day moving average price of $11.47 and a 200-day moving average price of $12.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.34%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that Paramount Global will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

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