Paramount Global (NASDAQ:PARA) Receives $13.79 Consensus PT from Analysts

Paramount Global (NASDAQ:PARA) has been given an average rating of “Reduce” by the twenty brokerages that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.79.

A number of equities research analysts recently commented on PARA shares. Raymond James restated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Paramount Global in a research note on Thursday, February 29th. Benchmark lowered their price target on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Finally, Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and lowered their price target for the company from $17.00 to $11.00 in a research note on Thursday, January 11th.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors have recently added to or reduced their stakes in PARA. Kodai Capital Management LP acquired a new position in Paramount Global during the 4th quarter worth approximately $84,842,000. Norges Bank acquired a new position in Paramount Global during the 4th quarter worth approximately $41,497,000. Lingotto Investment Management LLP increased its position in Paramount Global by 375.8% during the 4th quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock worth $48,388,000 after purchasing an additional 2,577,978 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Paramount Global by 15.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock worth $171,567,000 after purchasing an additional 1,767,173 shares in the last quarter. Finally, Ariel Investments LLC increased its position in Paramount Global by 18.0% during the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after purchasing an additional 1,731,714 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Down 0.5 %

Shares of NASDAQ:PARA opened at $12.68 on Monday. Paramount Global has a 12 month low of $10.12 and a 12 month high of $24.00. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $11.50 and its 200 day simple moving average is $12.88. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of -12.43, a PEG ratio of 0.44 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period last year, the business posted $0.08 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts forecast that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

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.