Analysts Set Paramount Global (NASDAQ:PARA) Price Target at $12.10

Paramount Global (NASDAQ:PARA) has earned an average rating of “Reduce” from the fourteen ratings firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.10.

Several research analysts have recently issued reports on the company. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th.

Institutional Investors Weigh In On Paramount Global

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in Paramount Global in the 4th quarter worth about $28,000. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Ossiam raised its stake in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global during the 4th quarter worth about $31,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Down 0.1 %

NASDAQ:PARA opened at $11.68 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The business has a 50 day simple moving average of $11.07 and a 200 day simple moving average of $10.80. The firm has a market capitalization of $7.79 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Equities research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio is -2.15%.

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.