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

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

Other research analysts also recently issued research reports about the stock. Benchmark dropped their target price on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. UBS Group cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research note on Wednesday, April 2nd. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $11.58.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.94 on Friday. The business has a 50-day moving average price of $11.43 and a two-hundred day moving average price of $11.07. Paramount Global has a 1-year low of $9.54 and a 1-year high of $13.40. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market cap of $8.01 billion, a P/E ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.25.

Paramount Global (NASDAQ:PARA) last released its earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. As a group, analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of 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 buying an additional 1,395 shares during the last quarter. Mattson Financial Services LLC bought a new position in Paramount Global in the 4th quarter valued at $28,000. Ossiam grew its stake in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after purchasing an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global during the 4th quarter valued at $31,000. Finally, Rakuten Securities Inc. raised its stake in shares of Paramount Global by 187.8% during 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. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.