Paramount Global (NASDAQ:PARA) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Paramount Global (NASDAQ:PARA) have earned a consensus rating of “Reduce” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.50.

A number of analysts have weighed in on PARA shares. UBS Group decreased their price objective on Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen started coverage on Paramount Global in a research report on Saturday, May 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, May 21st. Citigroup reaffirmed a “neutral” rating and set a $12.00 price objective (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, April 2nd.

Institutional Trading of Paramount Global

Hedge funds have recently modified their holdings of the business. Allworth Financial LP increased 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 valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Paramount Global by 3.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 237,966 shares of the company’s stock valued at $2,489,000 after purchasing an additional 6,839 shares in the last quarter. CIBC Asset Management Inc increased its stake in Paramount Global by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 85,095 shares of the company’s stock valued at $890,000 after purchasing an additional 2,052 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Paramount Global in the 4th quarter valued at approximately $175,000. Finally, Ieq Capital LLC purchased a new position in Paramount Global in the 4th quarter valued at approximately $111,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Trading Up 1.7%

NASDAQ:PARA opened at $12.53 on Friday. The stock’s 50 day moving average price is $11.87 and its 200 day moving average price is $11.34. The company has a market capitalization of $8.45 billion, a PE ratio of -1.52, a P/E/G ratio of 3.73 and a beta of 1.19. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. Paramount Global has a 52-week low of $9.95 and a 52-week high of $12.54.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, research analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.60%. Paramount Global’s dividend payout ratio is currently -2.43%.

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.