Paramount Global (NASDAQ:PARA) Now Covered by StockNews.com

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

PARA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, April 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. 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. Finally, Morgan Stanley upped their price target 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, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.09.

Paramount Global Price Performance

PARA opened at $11.14 on Monday. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of -1.36, a PEG ratio of 1.68 and a beta of 1.31. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The business’s fifty day simple moving average is $11.36 and its 200-day simple moving average is $10.95.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data 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). The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s payout ratio is -2.15%.

Hedge Funds Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Mattson Financial Services LLC acquired a new stake in Paramount Global during the 4th quarter worth about $28,000. Ossiam raised 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 valued at $29,000 after buying an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global in the 4th quarter valued at about $31,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after buying an additional 2,019 shares during the last quarter. Institutional investors and hedge funds 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.