Paramount Global (NASDAQ:PARA) Receives Average Rating of “Reduce” from Brokerages

Paramount Global (NASDAQ:PARA) has been given an average recommendation of “Reduce” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.50.

Several brokerages have weighed in on PARA. Guggenheim decreased their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th.

Institutional Trading of Paramount Global

Large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank increased its position in Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Kennebec Savings Bank bought a new stake in Paramount Global in the 3rd quarter valued at about $47,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Paramount Global in the 2nd quarter valued at approximately $68,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Up 2.0 %

PARA stock opened at $10.48 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a 50-day moving average of $10.74 and a two-hundred day moving average of $10.77. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -1.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.70. Paramount Global has a 52-week low of $9.54 and a 52-week high of $15.70.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Paramount Global will post 1.78 EPS for the current year.

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.