Paramount Global (NASDAQ:PARA) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Paramount Global (NASDAQ:PARA) in a report issued on Sunday. The firm set a “hold” rating on the stock.

Several other equities analysts also recently commented on PARA. Guggenheim reissued a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and an average price target of $12.10.

Paramount Global Trading Up 3.5 %

Shares of PARA stock opened at $11.96 on Friday. The stock has a fifty day simple moving average of $11.31 and a two-hundred day simple moving average of $10.91. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The firm has a market capitalization of $7.98 billion, a PE ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA) last released its 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 for the quarter, compared to analysts’ expectations of $8.07 billion. On average, analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Several large investors have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the period. Mattson Financial Services LLC bought a new stake in shares of Paramount Global in the 4th quarter worth about $28,000. Ossiam boosted 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 during the period. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global during the 4th quarter valued at about $31,000. Finally, Rakuten Securities Inc. raised its position in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the period. Institutional investors own 73.00% of the company’s stock.

About Paramount Global

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.