StockNews.com Lowers Paramount Global (NASDAQ:PARA) to Sell

Paramount Global (NASDAQ:PARA) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other research analysts have also issued reports on the company. Benchmark reiterated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Finally, Evercore ISI dropped their price objective on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. Eleven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.18.

Paramount Global Stock Down 1.6 %

Shares of PARA opened at $10.43 on Thursday. The company’s 50-day simple moving average is $10.67 and its 200-day simple moving average is $11.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The stock has a market capitalization of $6.95 billion, a PE ratio of -69.53, a P/E/G ratio of 0.60 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last released its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Analysts forecast that Paramount Global will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Paramount Global

A number of large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Paramount Global in the fourth quarter valued at about $44,000. Atlas Capital Advisors LLC acquired a new stake in Paramount Global during the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in Paramount Global during the 2nd quarter worth approximately $43,000. SageView Advisory Group LLC acquired a new position in shares of Paramount Global in the first quarter valued at approximately $56,000. Finally, GAMMA Investing LLC raised its stake in shares of Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors and hedge funds 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.