Paramount Global (NASDAQ:PARA) Price Target Lowered to $10.00 at Morgan Stanley

Paramount Global (NASDAQ:PARA) had its price objective reduced by Morgan Stanley from $11.00 to $10.00 in a research note published on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also recently commented on PARA. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. UBS Group reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a report on Tuesday, April 15th. StockNews.com started coverage on shares of Paramount Global in a research report on Thursday, May 1st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Wednesday, April 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.58.

Paramount Global Stock Performance

Shares of PARA opened at $11.50 on Tuesday. The firm has a market cap of $7.71 billion, a P/E ratio of -1.40, a PEG ratio of 1.68 and a beta of 1.25. Paramount Global has a twelve month low of $9.54 and a twelve month high of $13.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm’s 50 day moving average price is $11.41 and its two-hundred day moving average price is $11.04.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. On average, analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.74%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in Paramount Global by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after purchasing an additional 348,298 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after acquiring an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. increased its stake in Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after acquiring an additional 265,408 shares during the last quarter. Bank of New York Mellon Corp raised its position in Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after purchasing an additional 908,515 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Paramount Global during the fourth quarter worth $5,457,000. 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.