Paramount Global (NASDAQ:PARA) Given Average Rating of “Reduce” by Analysts

Shares of Paramount Global (NASDAQ:PARA) have been assigned a consensus recommendation of “Reduce” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.40.

PARA has been the topic of a number of recent research reports. Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research note on Monday. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Guggenheim lowered their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday.

Paramount Global Stock Performance

Shares of PARA stock opened at $11.45 on Friday. The business’s 50-day moving average price is $10.57 and its 200-day moving average price is $11.09. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of -1.39, a PEG ratio of 1.66 and a beta of 1.74. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts forecast that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.75%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Institutional Investors Weigh In On Paramount Global

A number of hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its stake in Paramount Global by 26.5% in the third quarter. Daiwa Securities Group Inc. now owns 71,874 shares of the company’s stock valued at $763,000 after acquiring an additional 15,053 shares during the period. Great Valley Advisor Group Inc. boosted its position in shares of Paramount Global by 9.3% during the third quarter. Great Valley Advisor Group Inc. now owns 21,786 shares of the company’s stock valued at $231,000 after buying an additional 1,846 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after buying an additional 1,030,592 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Paramount Global by 200.1% during the third quarter. Landscape Capital Management L.L.C. now owns 194,166 shares of the company’s stock valued at $2,062,000 after buying an additional 129,470 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Paramount Global during the third quarter valued at approximately $117,000. 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.