Paramount Global (NASDAQ:PARA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a research report released on Wednesday. The brokerage issued a hold rating on the stock.

Other analysts also recently issued research reports about the stock. UBS Group decreased their price objective 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. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a report on Wednesday, April 2nd. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reissued a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $11.92.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.73 on Wednesday. The company has a market capitalization of $7.82 billion, a PE ratio of -1.43, a PEG ratio of 1.68 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average price is $11.39 and its 200-day moving average price is $10.98. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share 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 analysts’ expectations of $8.07 billion. On average, equities analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

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

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently modified their holdings of PARA. Hoertkorn Richard Charles increased its position in shares of Paramount Global by 10.2% in the first quarter. Hoertkorn Richard Charles now owns 252,485 shares of the company’s stock worth $3,020,000 after purchasing an additional 23,419 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Paramount Global by 4.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company’s stock worth $391,000 after buying an additional 1,359 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Paramount Global by 7.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,350 shares of the company’s stock worth $871,000 after buying an additional 5,520 shares during the last quarter. SOL Capital Management CO raised its position in shares of Paramount Global by 0.7% during the 1st quarter. SOL Capital Management CO now owns 181,874 shares of the company’s stock valued at $2,175,000 after buying an additional 1,270 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Paramount Global by 22.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 17,339 shares of the company’s stock worth $207,000 after acquiring an additional 3,162 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.